Altex acquires Brico Depot network

The electro-IT retailer Altex, controlled by businessman Dan Ostahie, acquires Brico Dépôt Romania, one of the leaders of the local DIY and home improvement market, from the Kingfisher Group. The transaction, signed at the end of last year, is now approved by the Competition Council.

The acquisition worth EUR 70 million includes the entire Brico Dépôt network, consisting of 31 stores in 24 cities, the distribution operations, as well as the headquarters in Bucharest.

Brico Dépôt Romania has been on the local DIY market since 2013, when Kingfisher entered the country through the acquisition of Bricostore. In 2017, the group acquired the Praktiker store network from Turkish businessman Omer Susli, for which it paid EUR 22 million.

Altex is one of the largest local retailers, with over 130 stores open in the country. Altex Romania recently decided to enter the electricity production sector by establishing Altex Green Energy.

Source: Profit.ro