Baumax exits Hungary

Baumax, the Austrian DIY market leader, is pulling out of Hungary. Baumax stores in Austria, the Czech Republic and Slovakia are being switched to a new marketing concept that was unveiled in October 2014 at the store in Tulln. The conversion phase is set to commence in autumn 2015. The 14 Baumax stores in Hungary are to be closed in stages by April, with the premises being taken over by the furniture chain XXXLutz.
A decision is to be taken in the next few months regarding the subsidiary in Croatia, and negotiations are currently ongoing regarding the future of the company as a whole. Insider information suggests that at least three major European DIY chains are interested in acquiring Baumax: Groupe Adeo, Kingfisher and Obi.