Brico Dépôt Romania, one of the country’s established home improvement retailers, announces that it will transition to new ownership under Altex Romania. Kingfisher plc, the international home improvement company, has announced the sale of its Brico Dépôt Romania business to Altex Romania 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.
Thierry Garnier, CEO of Kingfisher, states:
“We are pleased to have found an experienced and successful local buyer for Brico Dépôt Romania. 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.
“I would like to thank all Brico Dépôt Romania colleagues for their commitment and customer focus over the years. Following strong interest, the outcome of the sale process is testament to the progress the team has made in strengthening the foundations of the business.”
Brico Dépôt Romania will continue to operate as normal during this transition, maintaining its commitment to customers, employees and partners.
Dan Ostahie, CEO of Altex Romania, states:
„Altex Romania, the leader in the electro-IT market, is excited to announce the acquisition of Brico Dépôt store network. This marks a significant milestone for all parties involved, and this first step opens up new horizons for growth and opportunities in the DIY market in Romania. Our primary goal is to continue growing while delivering quality services with the customer at the center of our focus. Our growth strategy is built on an omnichannel model, ensuring a seamless and enjoyable shopping experience for customers, regardless of the sales channel they choose. I want to convey a message of confidence to all Brico Dépôt customers, employees, and partners. We are committed to developing this business by bringing innovation and efficiency to every aspect of the operation. Every member of our team will benefit from opportunities for professional development and a stimulating work environment that emphasizes collaboration and excellence. Altex Romania is confident in the future of Brico Dépôt and is determined to continue serving the community with high-quality products and services.”
Adela Smeu, CEO of Brico Dépôt Romania, adds: “This marks a pivotal moment for Brico Dépôt Romania. Over the years, we have built a strong foundation, becoming a trusted destination for homeowners and professionals across the country. With a national network of 31 stores, we are proud to play a key role in the home improvement market, delivering quality products and services to our customers. As we move forward, our commitment to our customers, employees, and partners remains steadfast. Alongside our team, partners and together with Altex Romania, we will continue to develop the business and explore new growth opportunities.”
Active in Romania Since 2013
Brico Dépôt Romania has been a key player in the local home improvement market since Kingfisher entered the country in 2013 through the acquisition of Brico Store. Over the past 11 years, the business has undergone significant transformations, driven by strategic investments and an unwavering focus on meeting customer needs.
In 2017, through the integration of Praktiker, the company significantly expanded its presence, strengthening its position in Romania.
Today, Brico Dépôt operates 31 stores across 24 cities, supported by a dedicated team of more than 2,000 employees and a strong network of partners.
In recent years, Brico Dépôt Romania has adapted to evolving market dynamics by expanding its product ranges, enhancing its digital presence, and launching e-commerce capabilities.
Key Notes:
- Brico Dépôt Romania will continue to operate as usual during the transition period, ensuring stability for employees, customers and partners.
- Further updates will be shared as the transaction progresses and regulatory approvals are secured.
About Kingfisher
Kingfisher plc is an international home improvement company with over 1,900 stores, supported by a team of over 78,000 colleagues. We operate in eight 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 the 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.
About Brico Dépôt Romania
Brico Dépôt Romania is a major player in the DIY and home improvement market, with a national network of 31 stores in 24 cities and a dedicated team of over 2,000 employees. Brico Dépôt offers a wide range of products, including for the kitchen, bathroom, garden or construction, as well as quality services for homeowners, professionals and B2B customers.
Brico Dépôt’s mission is to make home improvement accessible to everyone. For more information, please visit: www.bricodepot.ro and the Brico Dépôt Romania Facebook page.
Enquiries:
- Brico Dépôt Romania: Alice Lupan | 0720 535 416 | alice.lupan@oxygencomms.ro
Veronica Plăcintescu | 0735 010 903 | veronica@oxygencomms.ro
- Kingfisher Investor Relations: +44 (0) 20 7644 1082 | investorenquiries@kingfisher.com
- Kingfisher Media Relations: +44 (0)7773 129 567 | corpcomms@kingfisher.com
- Altex Romania: 0756 073 800 | carmen.capitanescu@altex-holding.com
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