Praktiker Bau- und Heimwerkermärkte Holding AG
Takeover of Max Bahr Cleared by German Federal Cartel Office
Kirkel – 11 January 2007. Germany's Federal Cartel Office cleared the takeover of the operational business of Max Bahr by Praktiker. But at the same time it stipulated that in each of the four regional markets Schwerin, Cottbus, Lueneburg and Rostock a location shall be sold.
Commenting on the approval, Wolfgang Werner, chairman of the executive board of Praktiker Bau- und Heimwerkermärkte Holding AG, said, "We are pleased that the German Cartel Office has now cleared the takeover of Max Bahr. However, we regret having to relinquish four markets from our joint portfolio of 345 locations in Germany. By taking over Max Bahr, we will be able to tap a large potential of synergies which will make us more efficient, more productive and even more competitive. Max Bahr will remain an independent brand as, with our innovative two brand strategy, we intend to access as broad a range of customers as possible. The takeover of Max Bahr will also bring us close to the market leader in the German DIY market."