The Competition Council has authorized the transaction by which Altex Romania S.R.L. intends to acquire Bricostore Romania S.A.
Altex Romania S.R.L., part of the Altex Group, is primarily engaged in the retail of household appliances and electronics through its specialized physical stores, Altex and MediaGalaxy, as well as online via altex.ro and mediagalaxy.ro.
Bricostore Romania S.A. operates in the retail market for DIY (do-it-yourself) project products, including categories such as sanitary and storage, construction, electrical, plumbing, heating and cooling, kitchen, home improvement, tools, ceramic tiles and parquet, and decorations. The company currently operates 32 stores nationwide.
Before the transaction, Brico Depot was owned by Kingfisher Group Ltd, a global operator of DIY retail chains.
“Following its assessment, the Competition Council concluded that the transaction does not raise significant obstacles to effective competition in the Romanian market or a substantial part of it, and that there are no serious doubts regarding its compatibility with a normal competitive environment.
The decision will be published on the national competition authority’s website, after the removal of confidential information,” says a Competition Council’s press release.