ADVERTISEMENT

Kingfisher expands into Romania

Retail

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.”

ADVERTISEMENT

Fiscal, monetary policy partnership needed to rein in CPI - ... Analysis

Fiscal, monetary policy partnership needed to rein in CPI - ...

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

FAO–Food Bank convoy delivers food to those in need City

FAO–Food Bank convoy delivers food to those in need

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.