IN BRIEF: Kingfisher exits Romania as completes Brico Depot sale
2nd May 2025 19:04
Kingfisher PLC - London-based home improvement retailer and owner of B&Q and Screwfix - completes the sale of its Brico Depot Romania business to Altex Romania for an enterprise value of EUR70 million, around GBP59 million. The sale, announced in December, sees Kingfisher exit Romania just over a decade after entering in 2013. The sale includes a network of 31 stores in 24 cities in Romania, together with distribution operations and a head office in Bucharest. Altex currently operates 130 electronics and home appliance stores in Romania. The business being sold generated GBP269 million in sales in financial 2024, 2.1% of total Kingfisher sales. It suffered a retail loss of GBP18 million and free cash outflow of GBP17 million. Read More