The British group Kingfisher, Europe’s leading DIY and already owns Castorama and Brico Depot in France, announced on Monday, March 30, the failure of its proposed acquisition of Mr Bricolage.
The operation, in the amount of € 275 million, could not get in time the necessary authorizations from the competition authorities and, above all, she was challenged by the ANPF a franchise network, which is the largest shareholder of Mr. Bricolage.
The majority of the board of the French group expressed last week, reserves the divestments proposed by Kingfisher at the Competition Authority. According to a source in one of the two groups, this denière – she has not officially delivered its final verdict – would have required a number of “cures” to limit the dominance of the new group, whose stores.
Sixty should have been sold, mainly for franchisees. Or the 797 stores that account Mr Bricolage in France, only 82 are called “integrated”, that is to say, they belong to the company, the rest being exploited by small employers who join the group to benefit from its benefits.
Thursday, March 26, Kingfisher had indicated that “without the consent of Mr. Bricolage (…), could not be fire green competition authorities to finalize the transaction. “ Friday the ANPF also refused any extension of discussions beyond March 31
Read also:. Mr Bricolage about to give up marrying Kingfisher
In a statement Monday, the European leader in the DIY and interior design ads that “accordingly the transaction will not be completed” he repeats consider “all options. “
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