13 C
November 27, 2021

bauMax sells its Romanian stores to French Adeo

The ailing DIY chain Baumax has sold its subsidiary in Romania, including 15 branches, to France’s Adeo group, a press release informs. The 15 stores will be acquired through a share swap between the two companies. The transaction’s value has not been made public and is now pending regulatory approval from the Romanian authorities. Adeo owns the Leroy Merlin, KoziKaza, Brico Center, Weldom, Bricoman and Bricomart retail brands and is already present locally with a Leroy Merlin store in Bucharest. “We are happy that we have found a very good solution for bauMax Romania which will ensure a positive future for all those involved, especially for the local suppliers who will be able to continue to prove the potential of the Romanian market. bauMax can now successfully continue its restructuring especially in its five main markets,” said Michael Hurter, the retailer’s General Manager.

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