B&Q owner Kingfisher is to expand into Romania after acquiring 15 Bricostore shops from French retailer Group Bresson.
Kingfisher will convert the stores, which it bought for an undisclosed sum, into its Brico Dépôt format. The deal, which adds 2% selling space to Kingfisher’s estate, is due to complete in the next two months.
Kingfisher’s Romanian push comes as Debenhams revealed it has closed six stores in the country, which it described as an “extremely difficult market”.
Bricostore Romania recorded sales of €131m last year against EBITDA of €5m and is one of the largest DIY retailers in the country. Kingfisher believes there is scope to grow the business to around 50 stores.
Kingfisher chief executive Ian Cheshire said: “The Brico Depot store model has proved very successful in France and Spain, and we have said before that it has the potential for further international expansion.
“The home improvement market in Romania has solid growth potential and the stores we are acquiring are in good locations. We are looking forward to offering Brico Depot’s low-cost, easy-to-shop format to trade professionals and serious DIYers in Romania and developing a successful business there.”