Leroy Merlin expands by acquiring the BauMax network in Romania
The French retailer Leroy Merlin reached an agreement with the Austrian network BauMax for the purchase of the 15 BauMax units in Romania, following a share transfer deal 2014-08-09 00:21:14 - From the Print Edition
The transaction is pending the green light from Romanian competition regulators and comes as the predicted stage in the restructuring process developed by the Austrian retailer until 2016.
Following the transaction, Leroy Merlin, operated by Adeo group (also operating formats such as KoziKaza, Brico Center, Weldom, Bricoman and Bricomart) will grow the network in Romania to 16 units, including the facility opened within the Colloseum retail park launched in Chitila in 2010.
BauMax ended 2012 at a net loss worth 126 million Euro and the bad result was mostly due to losses in its Romanian (26 million Euro loss) and Turkish (14 million Euro) branches, but all Eastern European countries, except Slovakia, also worsened the company fiscal balance.
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