Romanian Competition Council greenlights Altex’s purchase of Brico Depot

Romania’s Competition Council has authorized the transaction through which electronic retailer Altex takes over DIY chain Brico Depot Romania, a network with 32 stores and 2,000 employees, in a deal valued at EUR 70 million.

Altex is one of the leading retailers of electronics in Romania, while Brico Depot offers products in categories such as sanitary and storage, construction, electrical, plumbing, heating and cooling, kitchen, home improvement, tools, ceramic tiles and flooring, and decorations.

After reviewing the case, the Competition Council concluded that the transaction does not pose significant obstacles to effective competition in the Romanian market or in a substantial part of it, and that there are no serious doubts regarding its compatibility with a normal competitive environment.

The finalization of the transaction is subject to regulatory approval in Romania and is expected to be completed in the first half of 2025. Brico Dépôt Romania will continue operating normally during this transition.

Before the transaction, Brico Depot was owned by Kingfisher Group Ltd, which operates DIY store chains globally. In 2017, the company significantly expanded its presence through the integration of Praktiker, consolidating its position in Romania.

“We are pleased to have found in Altex a trusted partner with experience and vision for Brico Dépôt Romania. This decision allows us to focus on markets where we are best positioned to generate attractive returns and greater value for shareholders and customers,” said Thierry Garnier, CEO of Kingfisher when the sale was first announced, according to HotNews.

“Altex Romania enthusiastically announces the acquisition of the Brico Dépôt store network. This is a significant moment for all involved, and this first step opens new development horizons and opportunities in the Romanian DIY market,” added Dan Ostahie, CEO of Altex Romania.

(Photo source: company photo)