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Council of Romanian Competition approves Altex's acquisition of Brico Depot

Electronic retailer Altex obtains approval for the acquisition of DIY chain Brico Depot Romania, a business featuring 32 stores and approximately 2000 workers, at an estimated cost of 70 million euros. Altex, a prominent player in Romania's electronics market, is the buyer in this deal.

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Council of Romanian Competition approves Altex's acquisition of Brico Depot

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Damn, Romania's Competition Council has given the green light for the deal where electronics retailer Altex snags DIY chain Brico Depot Romania. This badass network boasts 32 stores and over 2,000 employees, and it'll cost 'em a cool EUR 70 million.

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

After snooping around the case, the Competition Council figured the deal ain't gonna cause any major headaches for competition in the Romanian market or a significant chunk of it. Plus, they didn't see any serious issues with it messing with a normal competitive environment.

This bad boy's finalization hinges on the approval from Romania's regulator and is expected to go down in the first half of 2025. Brico Depot will keep on truckin' normally during this transition.

Before this deal went down, Brico Depot was in the hands of Kingfisher Group Ltd. That crowd runs DIY store chains worldwide. In 2017, they expanded like wildfire with the integration of Praktiker, cementing their position in Romania.

Thierry Garnier, Kingfisher's CEO, was stoked when they first announced the sale. According to HotNews, he said, "We're thrilled to have found Altex, a reliable partner with a vision for Brico Depot Romania. This decision allows us to concentrate on markets where we can deliver the most bang for our buck and greater value for shareholders and customers."

Dan Ostahie, Altex Romania's CEO, was just as jazzed. He added, "We're fucking psyched about snatching the Brico Depot store network. It's a major milestone for us, and it opens new development opportunities in the Romanian DIY market."

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(Photo source: company photo)

  1. By 2025, Altex is projected to further consolidate its position in Romania's retail industry with the acquisition of Brico Depot Romania, which operates in multiple product categories including flooring and home improvement.
  2. The regulatory approval for this EUR 70 million deal between Altex and Brico Depot Romania will be determined by Romania's regulator.
  3. The flooring and home improvement sector is expected to witness significant changes as Altex, a leading electronics retailer, ventures into the DIY market with the addition of the Brico Depot Romania business.
  4. After the deal, Altex's business profile will likely expand to include categories like sanitary, storage, construction, electrical, plumbing, heating and cooling, kitchen, home improvement, tools, ceramic tiles, and flooring.
Electronic retailer Altex secures green light from Romania's Competition Council to acquire DIY chain Brico Depot Romania, a network of 32 stores and 2,000 employees, in a EUR 70 million deal. Altex, a significant player in Romania's electronics retail sector, moves forward with this transaction.
Romanian Competition Council permits deal where electronics retailer Altex acquires DIY chain Brico Depot Romania, a business with 32 stores and over 2000 workers, valued at approximately 70 million EUR. Altex is a major player in Romania's electronic retail sector, and the acquisition expands its market presence.
Romanian Competition Council grants approval for electronic retailer Altex's acquisition of DIY chain Brico Depot Romania, a business with 32 stores and 2,000 employees, summing up to a EUR 70 million deal. Altex, a prominent electronics retailer in Romania, is moving forward with this acquisition.

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