Kingfisher expands into Romania
Kingfisher Plc, Europe’s leading home improvement retailer, announced on Monday that it has acquired Bricostore’s 15 home improvement stores in Romania from Group Bresson, a French retail company, for an undisclosed sum. The deal is planned to complete in the next two months and is expected to be earnings neutral in the first year. The deal adds 2% selling space to the Kingfisher estate, taking its total store numbers to around 1,040 in nine countries in Europe and Asia. The Romanian stores will be converted into the Brico Dépot format. Commenting on the announcement Ian Cheshire, Kingfisher’s Group CEO, said: “The Brico Dépot store model has proved very successful in France and Spain, and we have said before that it has the potential for further international expansion.”
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