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Surprise move in Germany: Max Bahr's operational business goes to Praktiker. The Kirkel-based retailer now has a premium brand to complement its discount channel
Praktiker Bau- und Heimwerkermärkte Holding AG is taking over the operational business of Max Bahr Holzhandlung GmbH & Co. KG. The two parties to the contract signed an agreement to this effect in Hamburg on Wednesday. They agreed to remain silent on the subject of the purchase price. In the most recent financial year Max Bahr achieved net sales of € 726 mio with 77 outlets and an overall retail area of 513 249 m². The Praktiker Group will generate annual sales of nearly € 4 bn together with Max Bahr, thereby reinforcing its position as second-largest DIY group in Germany behind Obi.
Praktiker is improving its positioning through the acquisition of Max Bahr. Through implementation of a two-brand strategy in Germany, with Praktiker as a discount-oriented brand and Max Bahr as a premium brand, the group intends to tap into additional groups of customers. Chairman Wolfgang Werner explained to the press during a teleconference that Praktiker's existing goals will remain unaltered: "These include the reinforcement of Praktiker's discount orientation in Germany by means of the Easy-To-Shop concept, and accelerated expansion in eastern Europe."
The owners of Max Bahr have sold their business in two parts, a property company and an operational company. Praktiker has taken over 100 per cent of the operational business and the group has a minority stake of 24 per cent in the property company.
The transaction remains subject to clearance by the Federal Cartel Authority.
Praktiker is improving its positioning through the acquisition of Max Bahr. Through implementation of a two-brand strategy in Germany, with Praktiker as a discount-oriented brand and Max Bahr as a premium brand, the group intends to tap into additional groups of customers. Chairman Wolfgang Werner explained to the press during a teleconference that Praktiker's existing goals will remain unaltered: "These include the reinforcement of Praktiker's discount orientation in Germany by means of the Easy-To-Shop concept, and accelerated expansion in eastern Europe."
The owners of Max Bahr have sold their business in two parts, a property company and an operational company. Praktiker has taken over 100 per cent of the operational business and the group has a minority stake of 24 per cent in the property company.
The transaction remains subject to clearance by the Federal Cartel Authority.
