IN BRIEF: Kingfisher sells loss-making Brico Depot Romania business

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Kingfisher PLC - London-based home improvement products retailer - Sells Brico Depot Romania business to local retailer Altex Romania for an enterprise value of €70 million, exiting the country 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 £269 million in sales in financial 2024, 2.1% of total Kingfisher sales. It suffered a retail loss of £18 million and free cash outflow of £17 million. Kingfisher notes that the disposal doesn’t affect its Brico Depot store chains in France, Spain and Portugal.

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