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Kingfisher acquires NeedHelp for €10 million
StockMarketWire.com
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Home improvement retailer Kingfisher said it had acquired NeedHelp, an online home improvement services marketplaces, for about €10 million.
As part of the transaction, Guillaume de Kergariou, the founder of NeedHelp, had reinvested proceeds from the sale in a 20% interest in the business, resulting in Kingfisher owning 80%, the company said.
'Online services marketplaces are key to the future of home improvement retail and NeedHelp is an established and fast-growing player in this arena,' Kingfisher said. 'Its acquisition accelerates our digital capabilities and extends the services that we can provide our customers - two central components of our future growth strategy.'
Looking ahead, the company pledged to develop NeedHelp in the UK and Poland.
At 8:03am: (LON:KGF) Kingfisher PLC share price was 0p at 294.3p
Story provided by StockMarketWire.com
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