Kingfisher acquires home improvement services marketplace NeedHelp
B&Q owner Kingfisher has acquired the French home improvement services marketplace NeedHelp for €10 million.
Founded in 2014, NeedHelp connects customers with vetted tradespeople and provides its services in more than 500 stores in France, Switzerland, Germany, Belgium, Austria and the Netherlands including Kingfisher’s French businesses, Castorama and Brico Dépôt.
The transaction has also included NeedHelp founder Guillaume de Kergariou reinvesting proceeds from the sale in a 20% interest in the business which has resulted in Kingfisher owning 80%. He will continue as chief executive following acquisition.
In addition to developing NeedHelp’s business in Europe with existing and new retail partners, Kingfisher is also planning to expand it to the UK in its B&Q and Screwfix stores and in Poland.
Thierry Garnier, Kingfisher’s chief executive, 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.
“Looking ahead, we will develop NeedHelp quickly in the UK and Poland by leveraging our extensive store network and our differentiated banners that serve both home improvers and tradespeople. This represents an exciting opportunity to create a more complete services offer and to help make better homes accessible for everyone.”
