The electro-IT retailer Altex, controlled by businessman Dan Ostahie, acquires Brico Dépôt Romania, one of the leaders of the local DIY and home improvement market, from the Kingfisher Group. The transaction, signed at the end of last year, is now approved by the Competition Council.

The acquisition worth EUR 70 million includes the entire Brico Dépôt network, consisting of 31 stores in 24 cities, the distribution operations, as well as the headquarters in Bucharest.

Brico Dépôt Romania has been on the local DIY market since 2013, when Kingfisher entered the country through the acquisition of Bricostore. In 2017, the group acquired the Praktiker store network from Turkish businessman Omer Susli, for which it paid EUR 22 million.

Altex is one of the largest local retailers, with over 130 stores open in the country. Altex Romania recently decided to enter the electricity production sector by establishing Altex Green Energy.

Source: Profit.ro

Raiffeisen Bank Romania and Mezanin Market open FactoryLab in Promenada – a space that will bring together products from over 60 Romanian entrepreneurs. For 4 months, those interested will find, on the 1st floor of Promenada Mall, a special selection of products – from Easter gifts, jewelry and illustrations, to clothes, decorative objects, ceramics and gourmet products.

“The project came as a natural extension of the factory by Raiffeisen Bank and Mezanin Market communities. After having financially supported over 560 local businesses, with amounts totaling EUR 32 million, we wanted to take our support further – offering not only financing, but also a real space for exposure and connection between entrepreneurs and the general public. FactoryLab is a testament to this commitment: a meeting place between creative brands and the general public,” says Alexandra Arsene, SME Director, Raiffeisen Bank Romania.

Raiffeisen Bank Romania and Mezanin Market open FactoryLab in Promenada – a space that will bring together products from over 60 Romanian entrepreneurs. For 4 months, those interested will find, on the 1st floor of Promenada Mall, a special selection of products – from Easter gifts, jewelry and illustrations, to clothes, decorative objects, ceramics and gourmet products.

“The project came as a natural extension of the factory by Raiffeisen Bank and Mezanin Market communities. After having financially supported over 560 local businesses, with amounts totaling EUR 32 million, we wanted to take our support further – offering not only financing, but also a real space for exposure and connection between entrepreneurs and the general public. FactoryLab is a testament to this commitment: a meeting place between creative brands and the general public,” says Alexandra Arsene, SME Director, Raiffeisen Bank Romania.

The Foot Locker brand, an American sports retailer that entered Romania three years ago with its own store in the Bucharest AFI Cotroceni shopping center, but which sold its local business to the Greek company Fourlis, is now opening its first stores on the local market with a new investor. The new store was opened in Mall Moldova, presented as the largest shopping center in the region.

The American giant Foot Locker has sold its local business to the Greek company Fourlis, which is preparing to open over 100 stores under this brand in Romania and Greece. The Greek group Fourlis has taken over, through a licensing agreement, the Romanian operations of Foot Locker, which has meanwhile reached 3 physical stores on the local market. Fourlis also owns the Intersport franchise in Romania.