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The Hungarian Wallis Group and the CEO of Praktiker Kft. Hungary, Karl-Heinz Keth, have acquired the two Hungarian Praktiker foreign subsidiaries from the holding companies of the German DIY retail chain.
In the first phase, the CEO, Keth is taking over the operative business units and the Wallis Group is taking over the three buildings in Hungary. In the future, both the Wallis Group and Keth want to run the operative business and the real estate as a joint company. The majority shareholder of this new company will be Wallis.
With the sale, the 19 stores and all 1 100 jobs will be secured. The annual turnover increased from € 80 mio in 2014 to € 100 mio last year.
In the first phase, the CEO, Keth is taking over the operative business units and the Wallis Group is taking over the three buildings in Hungary. In the future, both the Wallis Group and Keth want to run the operative business and the real estate as a joint company. The majority shareholder of this new company will be Wallis.
With the sale, the 19 stores and all 1 100 jobs will be secured. The annual turnover increased from € 80 mio in 2014 to € 100 mio last year.
