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Kingfisher enters Romania with Brico Dépôt

Published: 18 April 2013
Kingfisher, parent company to B&Q and Screwfix, has acquired 15 'Bricostore' home improvement sites in Romania from Group Bresson, a French retail company, for an undisclosed sum.
Kingfisher enters Romania with Brico Dépôt
The deal, which is expected to complete in the next two months, adds 2% selling space to the Kingfisher estate, taking its total store numbers to around 1,050 in nine countries across Europe and Asia. The Romanian stores will all be converted into the Brico Dépôt format.

The move is expected to be earnings neutral in the first year. Bricostore Romania recorded sales of €131m last year and EBITDA of €5m. It is one of the largest home improvement retailers in Romania, with well-located stores. According to Kingfisher, using the Brico Dépôt format means there is scope to grow the business to around 50 stores in the longer term.

Kingfisher group chief executive Ian Cheshire said: "The Brico Dépôt store model has proved very successful in France and Spain, and we have said before that it has the potential for further international expansion. Expanding Kingfisher's businesses in existing countries and in new territories is a key part of our 'Creating the Leader' strategy and I am therefore delighted to announce this exciting development.

"The home improvement market in Romania has solid growth potential and the stores we are acquiring are in good locations. We are looking forward to offering Brico Dépôt's low-cost, easy to shop format to trade professionals and serious DIYers in Romania and developing a successful business there."

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