Leroy Merlin increases capital by 14.5m euros

DIY retailer Leroy Merlin, held by French Mulliez family, increased the share capital of the local subsidiary, Leroy Merlin Bricolaj, by 14.5 million euros to 80.6 million lei (19 million euros) in mid March, with the company preparing for the opening of its first store on the Romanian market, in Bucharest.

The structure of the Leroy Merlin store, which is set to open in September this year, has been erected, with the store to be located on Șoseaua Chitila in Bucharest, within Colosseum retail park developed by Nova Group.

“The share capital was increased in order to allow the acquisition of systems necessary for the store in Bucharest. We are focusing on this store in view of the September opening,” said Cristian Petrescu, the Romanian appointed to coordinate the development of the French network on the Romanian market, after working for Praktiker for several years.

Leroy Merlin has placed ads on recruitment websites, seeking to hire 50 to 100 for the Chitila store, next to which there will also open a Carrefour hypermarket, as well as Altex and Flanco stores.