Kingfisher, the international home improvement company, has announced the sale of its Brico Dépôt in Romania business to Altex for an enterprise value of EUR 70m (equivalent to £ 58m).
The transaction includes Brico Dépôt’s network of 31 stores in 24 cities, distribution operations, and head office in Bucharest. The transaction is subject to regulatory approval and is expected to be completed in the first half of 2025.
Brico Dépôt has been a player in the local home improvement market since Kingfisher entered the country in 2013 through the acquisition of Brico Store. In 2017, through the integration of Praktiker, the company significantly expanded its presence.