Praktiker drives expansion into Romania
Praktiker drives expansion into Romania Four new locations opened in December 2006 alone
Kirkel/Bucharest, 28 November 2006 - Praktiker is massively extending its market leadership in Romania: In December alone, four new stores will be opened in this EU accession country. In total, the number four on the European DIY market invested around EUR 30 million into these locations.
By year's end, Praktiker will be operating 16 stores in Romania. The four new locations* are: Braila, Satu Mare, Baia Mare and the capital Bucharest, which boasts already two Praktiker outlets. Two of the four new stores (Braila and Satu Mare) will be opened on the same day, namely on 1 December 2006. Until the end of 2008, the Kirkel-based home improvement and DIY center operator plans to further extend its market leadership and be represented in all major cities with a population of more than 120,000. "This clearly attests to the fact that the speed and direction of our internationalization strategy are in no way affected by the acquisition of Max Bahr in Germany", stressed Wolfgang Werner, CEO of Praktiker Bau- und Heimwerkermärkte Holding AG. Internationalization will be driven further also next year.
Besides Bulgaria, where two new stores were opened this autumn, Romania is the focal point of attention for the expansion of Praktiker Group. Both foreign markets offer excellent growth potential resulting from a private home ownership quota of around 97 percent and a persistently high demand for modernization and renovation of the existing real estate, among other factors.
* Praktiker so far operates stores at the following locations: Arad, Bacau, Brasov, Bucharest Militari, Bucharest Voluntari, Cluj Napoca, Constanta, Craiova, Oradea, Ploiesti, Timisoara, Tirgu Mures.