LONDON (dpa-AFX) - International home improvement retailer Kingfisher plc (KGF.L), on Wednesday, said it acquired NeedHelp, one of Europe's leading home improvement services marketplaces, for a total cash consideration of about €10 million.
As part of the transaction, Guillaume de Kergariou, the founder of NeedHelp, has reinvested proceeds from the sale in a 20% interest in the business, resulting in Kingfisher owning 80%.
Thierry Garnier, Kingfisher's CEO, 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. Its acquisition accelerates our digital capabilities and extends the services that we can provide our customers - two central components of our future growth strategy.'
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