Kingfisher buys 15 stores in Romania

Suzie Neuwirth

FTSE 100-listed company Kingfisher today announced it would be expanding into Romania via an acquisition of 15 stores from French retailer Group Bresson.

Europe’s largest DIY retailer did not reveal the value of the deal but said that it is expected to be earnings neutral in the first year.

The acquisition, which is planned to complete in the next two months, takes Kingfisher’s total number of stores to 1050 in nine countries in Europe and Asia.

“The home improvement market in Romania has solid growth potential and the stores we are acquiring are in good locations,” said chief executive Ian Cheshire.