Kingfisher has agreed to sell Castorama Italy to French DIY chain Groupe Adeo for £440 million.
Kingfisher, which owns the B&Q retail chain, has agreed to sell Castorama
Castorama, which has 31 Italian stores, and employs 2,200 people, made a profit of £29 million in 2007/08. Kingfisher also own Castorama stores in
Kingfisher chief executive Ian Cheshire commented: “We have built a successful and profitable business in
He added: “We believe we can achieve higher incremental returns on capital elsewhere in
Kingfisher, which runs more than 800 home improvement stores across Europe and Asia, last week described trading conditions in the UK as “extremely tough” as it unveiled better-than-expected second quarter figures.