Kingfisher PLC
13 October 2000
Kingfisher plc Acquires Leading Czech Electrical Retailer
Kingfisher plc has today announced the purchase of a 60% majority share in
Datart, the market leading electrical retailer in the Czech and Slovak
Republics. The value of the net assets acquired is CSK 45 million (£0.78
million).
Datart, which operates large format stores based on a western model similar to
those of Kingfisher Electricals, currently has ten stores in the Czech
Republic and five in Slovakia. Established in 1991, the company had sales of
CSK 881 million (£15.3 million) in 1999, and plans to drive future growth by
expanding its highly successful out-of-town superstore format, opening 19 new
outlets in the next three years.
Commenting on the acquisition, Kingfisher Group Chief Executive, Sir Geoffrey
Mulcahy, said: 'Datart is an established and high growth business with a
proven management team which, as part of Kingfisher Electricals, has ambitious
plans to further develop the company's leadership position in the coming
years.
'As Europe's third largest electrical retailer, Kingfisher is committed to
playing a leading role in the consolidation of the European electricals
market. This acquisition will allow us to participate in the growing Czech
and Slovakian markets, with the opportunity to develop organically in Eastern
Europe'.
Notes to Editors
Kingfisher Electricals
* Kingfisher Electricals operates more than 780 stores in eight countries
and is Europe's third largest electrical retailing business, with sales at
year end 29 January 2000 of over £3.1 billion, and profits of £197 million
* As well as the leading position in France through Darty and number two UK
position through Comet, Kingfisher also has the leading position in Belgium
following the acquisition of Hugo Van Praag by New Vanden Borre. Furniture
and electricals chain BUT strengthens the Group in France, while other
Kingfisher Electricals brands include BCC in the Netherlands and ProMarkt in
Germany
For further information:
Media Enquiries
Jonathan Miller, Head of Public Relations +44(0)20 7725 5713
Gail Lavielle, Director of Corporate Communications +33(1) 43 18 52 68
Broker and Institutional Enquiries
Andrew Mills, Acting Director of Investor Relations +44(0)20 7725 5776
Graham Fairbank, Head of Corporate Communications +33(1)43 18 52 26
Kingfisher plc +44(0)20 7724 7749
Kingfisher website www.kingfisher.co.uk
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