After months of negotiations and a wave of interest that started in France and reached Sofia, the Greek chain of stores Praktiker Hellas is changing its owner.
The new owner is Paval Holding, owned by the brothers Adrian and Dragoș Pavăl, who will acquire the company and the commercial properties held by Eurobank for a sum exceeding 130 million euros, as reported by Fortune Greece.
Paval Holding is the parent company of Dedeman, the largest DIY retail group in Romania and the Balkans, with a turnover of over 2.5 billion euros and over 50 hypermarkets.
Despite entering negotiations for Praktiker Hellas late, Paval Holding managed to surpass the offers of giants such as Leroy Merlin (Adeo Group) and Videolux Holding from Bulgaria (Technopolis), submitting the most competitive bid.
The acquisition positions Paval at the center of the Greek DIY market, estimated at over 1.2 billion euros annually, a market in recovery and structurally supported by home modernization programs ("Exoikonomo"), the development of Airbnb, and tourism projects.
Greek consumers are increasingly familiar with efficiency and price-oriented approaches.
Praktiker owns 16 stores, has over 700 employees, and enjoys a strong and recognized brand.
The Pavăl Brothers' Message
"We have long desired to take this step, and today the dream becomes a reality. It is a challenge for us, but also a new beginning that we look upon with great confidence and responsibility.
We are proud that a 100% Romanian brand manages to cross borders and carry forward the principles in which we believe and which have always guided us: respect for people, honest work, and teamwork spirit," declares Dragoș Pavăl, the President of Dedeman, as quoted by Profit.ro.
Meanwhile, Dedeman continues its expansion plans in Romania. Soon, they will start the construction of a new store in Mediaș, a step that reaffirms the company's commitment to the domestic market.
"This acquisition by no means signifies that we are moving away from Romania, but quite the opposite. We continue to invest in the national network to be present where our customers need us. Now, with more courage, we dream even further. We aim to leverage the synergies between the two organizations, taking the best from each. We genuinely believe that together we can become stronger than we would have been separately," adds Dragoș Pavăl.