Mr. Bricolage takes over Tabur

The Mr. Bricolage cooperative in France is taking over the Tabur franchise group.  Following approval by the authorities, the merger is expected to go through by 30 September 2002 and will move Mr. Bricolage from fourth to third in the French DIY store rankings.  According to a press release, Groupe Tabur will bring 243 outlets trading under the names B3 Bricolage, Bricogite, Catena and Super Catena into the union. Tabur’s latest annual sales figure was € 428 mio, which will give a sales figure of € 1 565 bn relative to 2001 for the new Mr Bricolage grouping. The new group will have a network of 593 stores, which will be operated in future under the Mr. Bricolage, Catena and Super Catena logos.  The 34 stores previously controlled directly by Groupe Tabur and the 32 outlets under the direct control of Mr. Bricolage will continue to be run as such by the head office in the new structure. Maurice Vax will continue as chief executive, with Michel Tabur as his deputy.  The previous number two at Mr. Bricolage, Hervé Courvoisier, will also remain in post. 87 per cent of the Tabur shares are being acquired via the issue of 3.75 mio Mr. Bricolage shares, with the remainder being paid for in cash. The Tabur family will then have a 28.63 per cent stake in Mr. Bricolage.