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Mr Bricolage — M&A Activity 2009
Oct 1, 2009
1535_iss_2009-10-01_58ef44ed-4d81-42dd-a23e-aed949da8961.pdf
M&A Activity
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PRESS RELEASE
1 October 2009
Mr.Bricolage is now number three in DIY market in France with the acquisition of "Briconautes" Group
With Les Briconautes and Les Jardinautes, Mr.Bricolage group is now number three in DIY in France.
Mr Bricolage SA announced the acquisition of the Briconautes Group, including the central services unit, Le Club, 16 directly-owned Briconautes stores and the property relating to some of these sites.
At the same time, Mr Bricolage SA announced the acquisition of two stores under the Mr. Bricolage brand and the disposal of Seguin, a warehouse based in Sourdeval dedicated to third parties.
Mr Bricolage SA announced the signing of an agreement, submitted to the decision of the "Autorité de la Concurrence", for the acquisition of the subsidiaries of SAS Passerelle. They include Le Club - the central services unit which covers Les Briconautes and Les Jardinautes DIY and gardening brands.
Scope acquired by Mr. Bricolage SA
The acquisition scope mainly includes:
- the LE CLUB central services unit (2008 turnover excluding tax of €20 million), which operates the same business as Mr. Bricolage SA's central services unit;
- 16 directly-owned stores (2008 turnover including tax of approximately €39 million, for a total surface area of over 45,000 m²), adding to the 82 points of sale already directly-owned by Mr. Bricolage SA;
- the property companies that own the buildings associated with some of the directly-owned stores.
The scope acquired represents consolidated turnover for 2008 of around €43 million, for operating profit of nearly €5 million and net profit close to €2.5 million. The acquisition will be fully integrated into the Group's consolidated financial statements as of 1 October 2009.
Brand networks : scope change
With 178 points of sale in France (surface area of 332,000 m²) at end-2008, the Les Briconautes and Les Jardinautes brand networks represent turnover including tax of approximately €365 million, ranking them seventh in the DIY market in France (source: Unibal).
Following this transaction, the combined Mr.Bricolage Group networks will represent a total of almost 700 stores, 50 of which are abroad, for total commercial turnover of some €2.2 billion and over 1,600,000 m² in surface area.
With a 12.4% market share, this new Group is now ranked number three in the French DIY market and number one in the local DIY market (source: Unibal 2008). Moreover, it brings together almost 200 affiliates (branded or unbranded DIY or gardening stores and building material trades ) enabling it to draw on total purchasing power of around €850 million.
This acquisition holds major commercial and economic potential
With its highly complementary nature, this transaction holds many of synergies which can be developed assets, both commercial developed: commercially and in terms
- an increasingly dense national presence; commercial network which reinforces the Group's geographical
- many different brands through different store formats, which strengthen through Mr.Bricolage, Catena, Les Briconautes and Les Jardinautes our local positioning; Jardinautes with
- additional purchasing power, enabling the Group to benefit fro conditions; dditional from the best possible p m purchasing
- pooling of advertising and logistical resources, which will have a positive impact on productivity ooling productivity.
Acquisition of two stores under the Mr. Bricolage brand
In addition, Mr Bricolage SA announced the acquisition points of sale are implanted in Cholet (5,995 annual turnover including tax of around of two stores under the Mr. (5,995 m²) and La Roche sur Yon (8,800 €30 million. Mr. Bricolage brand. These 800 m²), and account for
With these acquisitions, the network of directly Mr.Bricolage and Les Briconautes area. directly-owned stores now totals 100 under the Briconautes brands, and operates more than 390,000 owned 000 m² of store surface
The combination of these acquisitions is valued at around intends to finance through the sale of property assets, debt and the disposal of (directly-owned warehouse in €60 million Sourdeval). million, which the Group of Seguin
Disposal of Seguin (warehouse in warehouse in Sourdeval)
Lastly, as part of its strategy of logistical refocusing on the Group's brands, sale, for around €5 million, of its Sourdeval warehouse entirely dedicated to third parties. Mr Bricolage SA (50) to Bricodeal. This 15,000 .announced the 15,000 m² warehouse was
ABOUT MR BRICOLAGE
Mr Bricolage is a leading DIY retailer in France with 477 points of sale and 50 stores in 9 other countries. The Group operates over 1,330,000 m Catena brands. Its full-year 2008 turnover including tax was approx it employed nearly 11,000 people around the world. m² of retail space under the Mr. approximately world. ² Mr.Bricolage and imately €1.89 billion, and
ABOUT BRICONAUTES
An independent specialist gardening and DIY retailer in France "Le Club", which operates over 330,000 brands, generated full-year 2008 turnover of 200 affiliates (branded or unbranded DIY or gardening stores and (178 points of sale m² under the Les Briconautes year €365 million. Moreover, it brings together almost building 178 sale), the group Briconautes and Les Jardinautes building material trades).
Next press release: Wednesday 28 October, after the stock market close third-quarter 2009 turnover
Investor and shareholder contacts
Mr.Bricolage SA: Eve Jondeau Tel: + 33 (0) 238 432 188 [email protected] Actifin Actifin Nicolas Meunier Charlène Masson Tel: + 33 (0) 156 881 111 Tel: + 33 (0) 156 881 111 [email protected] [email protected]
www.mr-bricolage.fr/groupe