London-based Kingfisher, one of Europe’s DIY retailer and interior design leaders, announced that it has successfully taken over 100 percent of Praktiker Romania’s shares for an undisclosed amount. The shares were acquired from the Turkish Susli family.
“Romania has an increasingly attractive DIY and interior design market and we have always had the intention of increasing our market share on mid term. Subject to the Competition Council approval, the strategic acquisition of Praktiker Romania, along with the Brico Depot store structure, gives us a strong presence across the country,” Adela Smeu, CEO of Brico Depot Romania, stated, commenting on the deal.
In turn, Turkish businessman Omer Susli said that he is pleased that he has managed to grow the Praktiker business up to this level. In 2016, Praktiker achieved a turnover of almost EUR 140 million, with a network of 27 stores in 23 cities across the country.
“We are proud that Romania is an interesting investment destination for a leader of the European DIY and interior design market,” Susli pointed out. He took over the retail chain in 2014, after the German group Praktiker went into insolvency.
Brico Depot, with15 stores and around 900 employees in Romania, is part of Kingfisher plc, the retail home improvement group with over 1,200 stores in 10 countries across Europe, employing 77,000 people.
Praktiker Romania has 27 stores in 23 cities countrywide. The company currently owns the stores in Piatra Neamt, Galati, Focsani, Ploiesti and Constanta.
In February, Praktiker celebrated 15 years of activity on the local DIY market.