The closing deal comes a month and a half after the announcement of the two companies on this transaction, which will see Bricostore stores be turned into Brico Depot, the brand under which the British company operates in France.
The transaction is evaluated at around EUR75 million, with market sources saying the UK company could make a new acquisition this year as it plans to reach 50 stores fast.
Having finalized the transaction, the British company is expected to start the remodeling of the stores and to change the logo to Brico Depot.
Bricostore had sales of around EUR140 million, 1,500 employees and 15 stores, with most stores located in capital Bucharest.
The main players in the Romanian DIY sector are companies such as Dedeman, Praktiker, BauMax and Ambient. The sector is set to consolidate after five years of organic decline for most of the companies. In the end there will probably remain three or four strong groups.
(English version by Daniela Stoican)