Kingfisher plc Group, an international DIY company, announced the sale of Brico Depot Romania to Altex Romania, for 70 million euros.
According to a press release of the company sent to AGERPRES on Wednesday, the acquisition includes the entire Brico Depot network, consisting of 31 stores in 24 cities, distribution operations, as well as the headquarters in Bucharest.
"The completion of the transaction is subject to approval from the regulatory institutions in Romania and is estimated to be completed in the first half of 2025," the release states.
Kingfisher representatives mentioned that, during the transition period, Brico Depot Romania will carry out its activity as usual, ensuring stability for employees, customers and partners.
Altex is a leader on the retail market in Romania, with more than 130 stores nationwide. In the more than three decades since its establishment, Altex has transformed itself from a local TV import business into the market leader in electronics, home appliances, IT&C and multimedia products in Romania.
Kingfisher plc is an international DIY company, with more than 1,900 stores and a team of more than 78,000 employees. The company operates in eight countries in Europe, under retail brands such as: Screwfix, B&Q, Castorama, Brico Depot, TradePoint and Koctas.
Brico Depot Romania is a major player in the DIY and home improvement market, with a national network of 31 stores in 24 cities and a team of more than 2,000 employees.