Kingfisher sells B&Q China

Kingfisher sells B&Q China

British DIY chain Kingfisher will sell its 70 % share of B&Q China to Wumei Holding for 180 million euro. The Chinese chain's turnover dropped steadily over the past few years and Kingfisher Group had stated in March 2014 it was on the lookout for a possible partner to help boost the chain's turnover.

Disappointing results

This particular move is Véronique Laury's first major decision since she became Kingfisher Group's CEO on 8 December 2014. Previously, Ian Cheshire was the group's CEO.

 

B&Q opened its first Chinese store in 1999 and currently manages 35 stores and 3,000 employees in China. The sale still has to get approval from the Chinese Ministry of Commerce, which is expected somewhere around mid-2015.

Questions or comments? Please feel free to contact the editors


Intergamma's dispute with Bricorama persists

01/12/2017

Intergamma’s issues with CRH’s shares still have not been resolved and it seems the dispute with French shareholder Bricorama has now boiled over. The latter even wants the Chamber of Commerce to intervene.

Bricorama does not want to sell Gamma

01/09/2017

French DIY company Bricorama will not sell Gamma’s Belgian and Dutch stores. There was a longstanding rumour to that nature, but the company has now refuted those claims.

Kingfisher experiences another turnover drop

17/08/2017

DIY group Kingfisher has experienced yet another disappoiting quarter: the British-French group suffered setbacks in both its home markets and the restructuring plan is also weighing down its results.

Sizeable profit drop for Geberit

17/08/2017

Swiss sanitation specialist Geberit has had a disappointing first semester of 2017, in which its profit dropped about 20 %. Turnover also slumped, but only slightly.

Intergamma: departure largest shareholder sparks turmoil

01/08/2017

Irish group CRH, which owns nearly 50 % of DIY Intergamma’s shares, wants to sell those shares, but the other shareholders cannot find an appropriate solution.

Strong Dutch growth for Hornbach

09/06/2017

German DIY chain Hornbach’s turnover and profit grew a lot in the past fiscal year, which ended 28 February 2017. Particularly its Dutch division performed very well.

Back to top