International DIY News
Italy's Bricofer Understood to Have Acquired Bricorama's Spanish Stores
According to articles on www.diyinternational.com and www.ferreteria-y-bricolaje.cdecomunicacion.es, Italy's Bricofer has acquired the Spanish stores of DIY chain Bricorama.
The news is understood to have been communicated to staff at Bricorama on 20th December and it is thought that the deal will be finalised in early 2019
Currently, in Italy, Bricofer operates 89 stores under the Bricofer brand, 6 under the Ottimax brand and 28 under the Self brand, which was acquired at the start of 2018. The acquisition would mark the company's first overseas activity.
Bricofer has a turnover in the region of EUR 100m and is associated with the European purchasing center ARENA Alliance.
Bricorama was acquired in early 2018 by ITM Équipement de la Maison, a subsidiary of the retail group Les Mousquetaires and operator of the sales channels Bricomarché and Brico Cash.
Bricorama announced its intention to divest its Spanish stores in October 2018.
Source : Insight DIY Team
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