The acquisition announced in the summer in the French DIY market, which also covers pet products, is perfect: Bricomarché, the fourth-biggest DIY store chain in France, is to acquire Bricorama, currently ranked sixth. The value of the company has been put at 385 mio euros. Although contracts were signed on 29 November, the cartel authority still has to give its blessing.
The buyer is ITM Équipement de la maison, the home improvement division of the Les Mousquetaires Group, which runs the Brico Cash stores as well as its main distribution channel Bricomarché. ITM is to acquire 100 per cent of the French and Spanish operations of Bricorama (Bricorama France SAS and Bricorama Mediterranee SL) as well as its Asian sourcing office (Bricorama Asia Ltd), but not the real estate.
However, Bricorama will remain a franchisee of the Intergamma Group, continuing to run its Gamma and Karwei stores in Belgium and the Netherlands. The company will also still be listed on the stock exchange in the Euronext Growth (formerly Alternext) segment.
According to the company, annual sales are in the order of 500 mio euros. Including the discount format Batkor, Bricorama had a network of 103 stores at the end of 2016. With 503 stores (in 2016) Bricomarché/Brico Cash has the biggest store portfolio in France.