Mr.Bricolage shares gained over 5% on Tuesday on the Paris Bourse, as the DIY store group announced plans for a purchasing partnership with the UK's Kingfisher.

In a joint press release, Kingfisher France and Mr.Bricolage announced this morning that they had entered into exclusive negotiations with a view to signing a purchasing partnership agreement.

This agreement, which would result in the creation of a joint venture likely to be finalized in the second half of 2023, could lead to commercial negotiations as early as 2024.

The aim of this partnership would be to strengthen links with common national and international suppliers, while offering them new commercial opportunities.

The companies, however, plan to maintain their own commercial policies.

Kingfisher is present in France through the Castorama and Brico Dépôt chains, which employ over 21,000 people in 218 sales outlets.

Mr.Bricolage, which operates the Mr.Bricolage and Les Briconolage chains, is present in France through the Castorama and Brico Dépôt chains, which employ over 21,000 people in 218 sales outlets.Mr.Bricolage, which operates the Mr.Bricolage and Les Briconautes chains, has 903 sales outlets in France.

At around 9.50 am, Mr.Bricolage shares were up 5.3%, one of the best performers on the Paris market, with volumes already three times those of the previous day.

At the same time, the SBF 120 index was up 1.4%.

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