Praktiker Hellas acquired by Dedeman parent company Pavăl Holding

Pavăl Holding, the parent company of Romanian DIY market leader Dedeman, has acquired Praktiker Hellas in Greece, marking its first expansion abroad. Praktiker Hellas operates 17 DIY stores and an online shop and is considered the market leader in Greece. According to a press release, the company offers a range of 50 products and employs around 1,200 people.

The transaction also includes a preliminary agreement with Eurobank for the acquisition of all currently leased properties. This step is intended to strengthen Praktiker Hellas' long-term presence in the Greek market. Pavăl Holding is financing the investment exclusively from its own equity, according to the press release. It quotes Dragoș Pavăl, President of Dedeman, as saying: “We are proud that a 100 per cent Romanian brand is managing to cross borders and carry on the principles we believe in and have always guided us: respect for…