DIY and home improvement retailer Kingfisher has announced the sale of its Brico Dépôt Romania business in a deal worth £58m.

The sale, to Romanian retail company Altex Romania, will complete during the first half of FY 2025/26, subject to regulatory approval.

Kingfisher first entered the Romanian market in 2013, when it acquired Bricostore Romania from French retail business, Group Bresson.

In FY 2023/24, Brico Dépôt Romania delivered sales of £269m for Kingfisher but contributed a retail loss of £18m and a free cash outflow of £17m.

Kingfisher, which owns B&Q and Screwfix, confirmed the deal comprises the entire Brico Dépôt Romania business, including its network of 31 stores in 24 cities, distribution operations, and head office in Bucharest. Kingfisher said the transaction would have no impact on its Brico Dépôt banners in France, Spain and Portugal.

“We are pleased to have found an experienced and successful local buyer for Brico Dépôt Romania,” Kingfisher CEO, Thierry Garnier, said.

“This decision enables us to have greater strategic focus on markets and growth initiatives where we are most strongly positioned to deliver attractive returns and create shareholder value.

“I would like to thank all Brico Dépôt Romania colleagues for their commitment and customer focus over the years. Following strong interest, the outcome of the sale process is testament to the progress the team has made in strengthening the foundations of the business.”

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