Disposal of builders’ merchant business

Kingfisher is selling its French non-core builders’ merchant, Dubois Matériaux, to Point.P, which is part of Saint-Gobain Building Distribution. According to Kingfisher, the purchase price comes to approximately € 100 mio. The sale must still be approved by the French competition authority; a decision is expected in the autumn. Dubois Matériaux, which was founded in 1951 by the Dubois family, operates 14 sites across France. In the last financial year the company achieved sales of £ 156 mio (€ 225 mio) and generated post tax profits of around £ two mio (€ 2.9 mio). The sale is consistent with the new focus of the UK group on large-scale home improvement retailing, according to chief executive officer Gerry Murphy.