Kingfisher PLC
29 February 2000
KINGFISHER PLC ANNOUNCES DIY EXPANSION INTO TURKEY
Kingfisher plc, the leading European retail group, has agreed to purchase a
50% stake in Koctas Yapi Marketleri Ticaret A.S. the new operator of Koctas,
the leading Turkish DIY retail chain with five superstores. The new company
will start with net assets of $7.2 million.
The investment is made through Kingfisher's DIY subsidiary Castorama Dubois
Investissements SCA (CDI) and will be managed as a joint venture through its
B&Q International division. The remaining 50% stake is held by the Koc Group,
Turkey's largest conglomerate.
The DIY market size in Turkey is estimated to be worth $4-5 billion and is
expected to double over the next 10 years.
The new business aims to open more than 30 new stores within the next 5 years.
Both CDI and the Koc Group intend to make additional investments in Koctas to
fund the store expansion programme.
Sir Geoffrey Mulcahy, Chief Executive of Kingfisher plc, said:
'The DIY market in Turkey is hugely fragmented. The combination of Castorama's
pan European position with Koc's local expertise creates a new force to meet
the demands of a large and fast growing market.'
For further information
Kingfisher plc + 44 (0) 20 7724 7749
Media Enquiries
Gwen Gober, Director of Corporate Affairs + 44 (0) 20 7725 5714
Broker and Institutional Enquiries
Keith Williams, Director of Investor Relations + 44 (0) 20 7725 5776
Kingfisher website www.kingfisher.co.uk
France
Graham Fairbank, Head of Communications + 33 (1) 43 18 52 26
Financial Dynamics + 44 (0) 20 7831 3113
Andrew Dowler
Charlie Armitstead
Koctas + 90 (0) 216 454 1600
Arzu Esginyrt, Marketing Manager
Koctas website www.koctas.com.tr
Koc website www.koc.com.tr
Notes to Editors
Kingfisher plc currently employs 117,000 people in 15 countries with over
2700 stores. It is Europe's largest DIY retailer and third largest
electrical retailer
The Koc Group has a history of long and successful partnerships across
many business sectors with major international corporations such as
Fiat, Ford, Henkel, Mannesmann, Yamaha and BOC
Partnership with The Koc Group provides a developed corporate
infrastructure in Turkey particularly in site development, financial
services, supply chain and human resources
The Koctas retail Group currently has five DIY stores in Turkey
Turkey is a large and rapidly growing economy. With a population of 65
million people, it has economic growth rates of 4-5% year on year.
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