Type Public limited company Industry Retail | Traded as LSE: KGF
OTCQX: KGFHY Revenue 10.97 billion GBP (2015) | |
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Founded 1982; 35 years ago (1982) Key people Daniel Bernard
(Chairman)
Véronique Laury
(Group Chief Executive) Products Home improvement products such as home appliances, tools, home furnishings, hardware, and garden supplies & plants. Stock price KGF (LON) 337.80 GBX +1.00 (+0.30%)14 Mar, 10:02 AM GMT - Disclaimer Headquarters City of Westminster, United Kingdom CEO Véronique Laury (Feb 2015–) Subsidiaries B&Q, Brico Dépôt, Screwfix, Castorama Profiles | ||
Kingfisher plc
Kingfisher plc is a British multinational retailing company headquartered in London. It is the largest home improvement retailer in Europe, and the third-largest in the world (behind The Home Depot and Lowe's). It has over 1,176 stores, in eleven countries across Asia and Europe, and its brands include B&Q, Castorama, Brico Dépôt and Screwfix.
Contents
Kingfisher is listed on the London Stock Exchange, and is a constituent of the FTSE 100 Index.
History
Kingfisher was founded in 1982, by the buyout of the British Woolworths chain by Paternoster Stores Ltd, which later changed its name to Woolworth Holdings plc. The Company expanded through subsequent acquisitions of companies such as B&Q, Superdrug and Comet. It was led from 1984 (until his retirement in 2002) by Sir Geoffrey Mulcahy, who became renowned for his taciturn public persona, lengthy decision-making and love of sailing. Largely through his influence, Kingfisher became the major sponsor of British sailor Ellen MacArthur. It was renamed Kingfisher plc in 1989.
Further acquisitions of European companies such as Castorama, BUT S.A. and Wegert enabled the Company to grow to become the largest general retail business in the United Kingdom.
In July 1999, Kingfisher attempted a takeover of Asda, one of the United Kingdom's largest supermarket chains, only to be beaten by Wal-Mart. In August 2001, coupled with an acrimonious battle for control of Castorama, the resultant share price pressure forced the sale and demerger of several parts of the company, including Woolworths (forming the Woolworths Group), and the demerger of the electricals business to form Kesa Electricals in July 2003 – causing the company to refocus entirely around DIY.
The company was led by Gerry Murphy, from 2002–2008. In January 2008, Kingfisher appointed Ian Cheshire as group chief executive. Cheshire was formerly B&Q's chief executive; his B&Q role was taken over in April 2009, by Euan Sutherland, who also headed up the United Kingdom Division of Kingfisher.
In September 2014, it was announced that the head of Castorama Véronique Laury would replace Ian Cheshire as Kingfisher Group CEO in February 2015. Laury has worked at Kingfisher for eleven years, including roles at B&Q.
Operations
Kingfisher currently operates over 1,176 stores in eleven countries in Asia and Europe. Its main retail brands are B&Q, Castorama, Brico Dépôt, and Screwfix.
The companies now part of the Kingfisher group are: