Money Buzz! Europa

Tag: Kingfisher

  • Kingfisher acquired NeedHelp for a total cash consideration of c.€10 million

    Kingfisher acquired NeedHelp for a total cash consideration of c.€10 million

    Kingfisher acquired NeedHelp, one of Europe’s leading home improvement services marketplaces, for a total cash consideration of c.€10 million.

    As part of the transaction, Guillaume de Kergariou, the founder of NeedHelp, has reinvested proceeds from the sale in a 20% interest in the business, resulting in Kingfisher owning 80%.

    NeedHelp is an B2B2C online platform that connects customers who need home improvement help, either in-store or online, with vetted professional tradespeople and other skilled experts.

    While most of its business is currently in France, NeedHelp also operates in Switzerland and has recently expanded into Germany, Belgium, Austria, and the Netherlands.

    Through its open architecture, NeedHelp already provides its services to customers in more than 500 stores including Kingfisher’s French businesses, Castorama and Brico Dépôt.

    Along with developing NeedHelp’s business in Europe with existing and new retail partners, Kingfisher also plans to roll out the platform in the UK and Poland. In the UK,

  • Kingfisher completes sale of Castorama Russia to Maxidom

    Kingfisher completes sale of Castorama Russia to Maxidom

    Kingfisher completed the sale of Castorama Russia to Maxidom, a leading home improvement company in Russia, for a total consideration of RUB c.7.4bn (c.£73m).

    The total consideration of RUB c.7.4bn will be satisfied as follows:

    • 80% paid at the closing of the transaction
    • Remaining 20% to be paid in equal instalments over two years
    • The sale has been granted all regulatory approvals and completed on 30 September.

    Thierry Garnier, CEO of Kingfisher, said: ”I am pleased to announce the completion of the sale of Castorama Russia to Maxidom. I would like to thank our Castorama Russia colleagues for their contribution to Kingfisher and wish them well for the future.”

  • Kingfisher is launching a share plan for employees

    Kingfisher is launching a share plan for employees

    Kingfisher is launching an all-colleague share plan and every one of the 77.000 employees will be given the opportunity to become shareholders.

    The new plan will mean every share bought by a employee will be matched by Kingfisher on a one-for-one basis.

    The minimum monthly contribution will be £10, with a maximum total contribution limited to £1.500.

    The plan is open to all Kingfisher colleagues employed in September 2020 and participants can register for the plan between October and November 2020.

    Participants can choose to contribute anything between £10 and £250 a month (or the equivalent value in local currency). Contributions will be made for six months between January 2021 to July 2021.

    The shares will be bought in July 2021.

    After a vesting period of one year (in July 2022), participants can choose to keep or sell their purchased and matching shares.

    Participants will receive dividends accrued during the vesting period. These are automatically reinvested into shares.

    Participants can sell their purchased shares before the end of the vesting period, but they will not receive their matching shares if they do.