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, stated: “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, said in his turn: “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, addsed: “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.”