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Despite the “friendly nature” of the plan, Mr Bricolage reacts with caution
Once again efforts are being made to take over the French franchise group Mr Bricolage. Competitor Bricorama made a takeover bid of € 15 per share to the shareholders of Mr Bricolage on 1st September. Mr Bricolage offered a reserved response and announced that there are no official negotiations. Following this, Bricorama stressed the “friendly nature” of the process. The bid has since expired.
However, Bricorama continues to adhere to its original argument that the project follows a “strong strategic industry logic” and would allow a big family run DIY store to be represented in a new dimension. Furthermore, the merger would create synergies and better conditions for the franchisees of Mr Bricolage. Both existing brands would run under Bricorama. In a market dominated by a duopoly of two large-area operators, the independent companies have to “react, in order not to be squeezed even more”.
Last year the British Kingfisher Group negotiated a takeover with Mr Bricolage. However, the negotiations failed in March.
However, Bricorama continues to adhere to its original argument that the project follows a “strong strategic industry logic” and would allow a big family run DIY store to be represented in a new dimension. Furthermore, the merger would create synergies and better conditions for the franchisees of Mr Bricolage. Both existing brands would run under Bricorama. In a market dominated by a duopoly of two large-area operators, the independent companies have to “react, in order not to be squeezed even more”.
Last year the British Kingfisher Group negotiated a takeover with Mr Bricolage. However, the negotiations failed in March.
