Subsids Acquisition

KINGFISHER PLC
27 July 1999
 

  Kingfisher plc announces complementary channels development
 
Kingfisher plc, the European retail group, announces the
acquisition through Castorama, its French based DIY
subsidiary, of Screwfix. Screwfix is the UK's largest mail
order and e-commerce supplier of building, carpentry,
plumbing, electrical and maintenance products.
 
Since 1992 sales at Screwfix have virtually doubled every year
and last year's turnover was £28.2 million. Year to date sales
growth is ahead of last year's growth.
 
The net assets of the overall business being acquired in the
last audited accounts, dated 31 January 1999, were £3.8
million.
 
The business of Screwfix consists of Screwfix Direct Ltd,
Wildbird International Ltd and a freehold property previously
owned by the vendor's pension fund.
 
Notes to Editors :
 
Kingfisher DIY is Europe's largest DIY operation with market
leading positions in the UK through B&Q and in France through
Castorama.  The Kingfisher DIY sector includes some 500 stores
operating in nine countries.  It ranks number 3 in the global
DIY market.
 
Enquiries :
 
Kingfisher plc
[phone]
Gwen Gober
Director of Corporate Affairs
 
[phone]
Christiane Cambien
Castorama Investor Relations