Kingfisher buys Dutch retailer
Wednesday 21 May 1997
BCC Holding Amstelveen is a privately-owned chain of 17 electrical retailers in the Amsterdam/ Rotterdam area. It was formed in 1969 and has grown steadily to second place among electrical retailers in the Netherlands, controlling about 5 per cent of the national market in domestic electrical goods. It employs over 400 staff.
Though a small purchase, the BCC deal is part of Kingfisher's strategy of developing a powerful electrical retailing division in western Europe. It follows the purchase of Vanden Borre in Belgium last year and the larger acquisition of Darty, the French-based chain, in 1993. Kingfisher also owns a 26 per cent stake in But, a French electrical and furniture stores group.
BCC's turnover in the year to the end of March was pounds 77.8m while pre-tax profits were pounds 2.5m. "BCC is a well-managed company with good growth opportunities which will continue to be run by its successful management team and will benefit from being part of a leading European Group", Philippe Frances, chief executive of Kingfisher Electrical Retailing, said yesterday. There are, however, no particular synergies and no master plan to channel standard products through the outlets. A BCC spokesman said the deal would allow the company to grow more rapidly.
Earlier this year Kingfisher signalled its intention to expand its interest in Europe in DIY with the appointment of Jim Hodkinson, formerly chief executive of the DIY subsidiary B&Q, to the post of chairman of Kingfisher DIY. Other appointments at the same time signalled the development of long-term strategies for the group. "This acquisition carries forward one strand of our strategy for growth in Europe," Mr Frances said yesterday.
Kingfisher has also opened a branch of B&Q in Taiwan and is keen to expand its DIY interests in the Far East. Its has established an Asian division and is investing in training classes for locals in an attempt to convince them of the virtues of home decorating and DIY improvements.
Shares in Kingfisher fell 7.5p to 699.5p in line with the market yesterday.
- 1 I've been called an abusive and dangerous parent, when all I did was listen to my transgender child
- 2 Why this father didn’t hide his daughter’s heroin overdose in her obituary
- 3 Company breaks open Apple Watch to discover what it says is 'planned obsolescence'
- 4 Teaching profession headed for crisis as numbers continue to drop and working lives become 'unbearable'
- 5 The most powerful passports in the world
Nepal earthquake in pictures: Photos show devastation caused by 7.8 magnitude earthquake
Smartphones are making children borderline autistic, says psychiatrist
Nepal earthquake: The race is on to help thousands trapped under rubble around Kathmandu, while remote villages face a long wait for help
Royal baby: Live updates as superbug closes ward at St Mary's Hospital where Duchess of Cambridge is due to give birth
Teaching profession headed for crisis as numbers continue to drop and working lives become 'unbearable'
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband
The sickening truth about food banks that the Tories don't want you to know
Migrant boat disaster: Ukip candidate mocks victims in sickening Twitter post
Nigel Farage wants the BBC to stop making programmes like Doctor Who, Strictly Come Dancing, and Top Gear
Global warming: Scientists say temperatures could rise by 6C by 2100 and call for action ahead of UN meeting in Paris
Rupert Murdoch berated Sun journalists for not doing enough to attack Ed Miliband and stop him winning the general election
iJobs Money & Business
£24000 - £26000 per annum + benefits : Ashdown Group: A highly successful, glo...
£50000 - £55000 per annum: Ashdown Group: Business Analyst - Financial Service...
£18000 - £23000 per annum + OTE £45K: SThree: At SThree, we like to be differe...
£20000 - £25000 per annum + competitive: SThree: Did you know? SThree is the o...