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The takeover in the French DIY market, which was announced in summer, is now settled: Bricomarché, the fourth largest DIY store operator in France, is taking over Bricorama, currently in sixth place. The value of the company has been set at EUR 385 mio. Contracts have now been signed but the cartel authority still has to agree.
The buyer is ITM Équipement de la maison, the home improvement division of the Les Mousquetaires group under which, in addition to the main sales channel Bricomarchéthe, the Brico Cash stores are also listed. ITM is taking over 100 per cent of Bricorama's French and Spanish activities (Bricorama France SAS and Bricorama Méditerranée SL) as well as their Asian sourcing office (Bricorama Asia Ltd), but not the properties. Bricorama however, remains franchisee of the Intergamma group and will continue to operate its Gamma and Karwei stores in Belgium and the Netherlands. The company will also remain listed on the stock market in the segment Euronext Growth (formerly Alternext).
According to the company, this involves annual sales in the region of around EUR 500 mio. Including the discount format Batkor, Bricorama had a network of 103 locations at the end of 2016. Bricomarché/Brico Cash has the largest portfolio of locations in France with 503 stores (as of 2016).
The buyer is ITM Équipement de la maison, the home improvement division of the Les Mousquetaires group under which, in addition to the main sales channel Bricomarchéthe, the Brico Cash stores are also listed. ITM is taking over 100 per cent of Bricorama's French and Spanish activities (Bricorama France SAS and Bricorama Méditerranée SL) as well as their Asian sourcing office (Bricorama Asia Ltd), but not the properties. Bricorama however, remains franchisee of the Intergamma group and will continue to operate its Gamma and Karwei stores in Belgium and the Netherlands. The company will also remain listed on the stock market in the segment Euronext Growth (formerly Alternext).
According to the company, this involves annual sales in the region of around EUR 500 mio. Including the discount format Batkor, Bricorama had a network of 103 locations at the end of 2016. Bricomarché/Brico Cash has the largest portfolio of locations in France with 503 stores (as of 2016).
