The transaction includes Brico Dépôt's network of 31 stores in 24 cities, distribution operations, and its HQ in Bucharest.
“This decision enables us to have greater strategic focus on markets and growth initiatives where we are most strongly positioned to deliver attractive returns and create shareholder value,” says Thierry Garnier, CEO of Kingfisher.
Dan Ostahie, CEO of Altex Romania, added that the acquisition opens up new horizons for growth and opportunities in the DIY market in Romania.
Altex has more than 130 stores across Romania and has grown from a local television import business into the largest retailer for electronics, home appliances, IT&C, and multimedia products.
