Further to the announcement of 18 December 2024, Kingfisher plc, the international home improvement company, today announces that it has completed the sale of its Brico Dépôt Romania business to Altex Romania for an enterprise value of €70m (equivalent to £59m1).
Thierry Garnier, Kingfisher CEO, said:
“The sale of Brico Dépôt Romania, now completed, enables us to have greater strategic focus on markets and growth initiatives where we are strongly positioned to deliver attractive returns and create shareholder value. It also allows us to continue to provide our Own Exclusive Brands to customers in Romania.
“I would like to thank all Brico Dépôt Romania colleagues for their commitment and customer focus over the years and I wish them well under the new ownership.”
Enquiries:
Investor Relations +44 (0) 20 7644 1082 [email protected]
Media Relations +44 (0)7773 129 567 [email protected]
Company Secretary +44 (0)7768 806 248 [email protected]
Notes to Editors
1. Figures presented in GBP use the following exchange rate: EUR 1.18: GBP1.00
About Kingfisher
Kingfisher plc is an international home improvement company with over 1,900 stores, supported by a team of c.74,000 colleagues. We operate in seven countries across Europe under retail banners including Screwfix, B&Q, Castorama, Brico Dépôt, TradePoint and Koçtaş. We offer home improvement products and services to consumers and trade professionals who shop in our stores and via our e-commerce channels www.kingfisher.com
Better Homes. Better Lives. For Everyone. At Kingfisher, we believe a better world starts with better homes and we strive to help make that happen.
About Altex
Romania
Altex is a leading retail company in Romania, with over 130 stores nationwide. Over more than three decades since its establishment, Altex has grown from a local television import business into the market leader for electronics, home appliances, IT&C, and multimedia products in Romania. From the very beginning, Altex has been committed to offering high-quality products tailored to consumer needs and providing accessible financing solutions. The "2X the Difference" service, compared to other online or offline stores, guarantees customers the lowest price in Romania.
Over time, Altex has expanded not only its product range but also its services. To support customers in accessing financing, Altex established Credex, a consumer credit company that provides optimal financing solutions with low-interest rates for purchases made both online and across its national store network.
