EDEKA / Marktkauf has sold Marktkauf Baumärkte to REWE Group
EDEKA-subsidiary Marktkauf Baumärkte (DIY) has signed definitive agreements with REWE Group for the sale of 133 DIY stores from Marktkauf’s DIY division (Marktkauf Baumärkte). Marktkauf DIY is a large DIY store operator in Germany. Lincoln International acted as exclusive financial advisor to EDEKA / Marktkauf Holding in this transaction.
The acquisition makes toom BauMarkt, the specialist store subsidiary of REWE Group, into the new number three in the German DIY business with 385 locations. The acquisition is subject to review by the cartel authorities. Tthe Marktkauf DIY stores in 2006 achieved a net turnover of around 760 million euros with nearly 5,200 employees. Details of the transaction were not disclosed.
“The Marktkauf stores represent a future-ready package that we have placed in the hands of REWE Group and that is not part of our core business,” said Alfons Frenk, CEO of EDEKA AG, in commenting the strategic decision.
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