Kingfisher plc

The company was founded in 1982 as Paternoster Stores Ltd, to conduct a buyout of the British Woolworths chain. In March 1983, Paternoster changed its name to Woolworth Holdings plc.{{cite news|url=https://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/11455890/New-chapter-and-big-questions-ahead-for-DIY-empire-behind-BandQ.html|title=New chapter and big questions ahead for DIY empire behind B&Q |publisher=The Telegraph |date= 7 March 2015|access-date=4 March 2019|last1=Ruddick |first1=Graham }} Woolworths already owned B&Q, and the company expanded through subsequent acquisitions of companies such as Superdrug and Comet.

The business acquired Screwfix in July 1999, which is now the United Kingdom's largest multi channel retailer of trade tools, accessories and hardware products. The company was led from January 1984, until his retirement in December 2002, by Sir Geoffrey Mulcahy. Largely through his influence, the company became the major sponsor of British sailor Ellen MacArthur.{{cite web|author=Offshore Challenges Media/ISAF Secretariat |url=http://www.sailing.org/news/3707.php |title=Kingfisher continues sponsorship |publisher=Sailing.org |date=3 January 2002 |access-date=18 April 2011}}

Woolworth Holdings was renamed Kingfisher plc in December 1989. Further acquisitions included European companies such as Castorama,{{cite web|url=http://findarticles.com/p/articles/mi_m0VCW/is_12_25/ai_55013613 |title=French turn eyes to International Arena |publisher=Findarticles.com |access-date=18 April 2011 |url-status=dead |archive-url=https://archive.today/20120710063452/http://findarticles.com/p/articles/mi_m0VCW/is_12_25/ai_55013613 |archive-date=10 July 2012 }} BUT S.A.{{cite web|url=https://query.nytimes.com/gst/fullpage.html?res=9C0DE1D8103CF937A15755C0A96E958260 |title=Kingfisher takes stake in French retailer |work=New York Times |date=24 June 1998 |access-date=18 April 2011}} and Wegert.{{cite news|url=https://www.telegraph.co.uk/finance/2839853/Kingfisher-gives-back-ProMarkt-to-Wegerts.html|title=Kingfisher gives back ProMarkt to Wegerts|date=18 January 2003|publisher=The Telegraph|access-date=4 March 2019|last1=Rankine|first1=Kate}} In July 1999, Kingfisher attempted a takeover of Asda, one of the United Kingdom's largest supermarket chains, only to be beaten by Walmart.{{cite web|url=http://findarticles.com/p/articles/mi_m0DQA/is_1999_June_17/ai_55041044 |title=Wal-Mart buys Asda in United Kingdom retail shock |publisher=Findarticles.com |date=17 June 1999 |access-date=18 April 2011 |url-status=dead |archive-url=https://archive.today/20120708022237/http://findarticles.com/p/articles/mi_m0DQA/is_1999_June_17/ai_55041044/ |archive-date=8 July 2012 }}

In August 2001, coupled with an acrimonious battle for control of Castorama,{{cite web|last=Osborne |first=Alistair |url=https://www.telegraph.co.uk/money/main.jhtml?xml=/money/2002/05/16/cnking16.xml |title=Kingfisher swoops for Castorama |work=The Daily Telegraph |location=UK |date=16 May 2002 |access-date=18 April 2011}}{{dead link|date=July 2021|bot=medic}}{{cbignore|bot=medic}} the resultant share price pressure forced the sale and demerger of several parts of the company, including Woolworths (forming the Woolworths),{{cite web|url=https://www.telegraph.co.uk/money/main.jhtml?xml=/money/2000/09/14/cnking14.xml|title=Personal finance – How to grow your wealth and spend less money – Telegraph|work=Telegraph.co.uk|access-date=16 March 2015}}{{dead link|date=July 2021|bot=medic}}{{cbignore|bot=medic}} and the demerger of the electricals business to form Kesa Electricals in July 2003 – causing the company to refocus entirely around DIY.[http://business.timesonline.co.uk/tol/business/article1143263.ece Kesa Chief's pay will double after split] {{webarchive |url=https://web.archive.org/web/20110612061739/http://business.timesonline.co.uk/tol/business/article1143263.ece |date=12 June 2011 }}

The company was led by Gerry Murphy from December 2002 to November 2007.{{cite web|url=http://www.theretailbulletin.com/news/kingfisher_plc_appoints_ian_cheshire_as_group_chief_executive_25-01-08/ |title=The Retail Bulletin |publisher=The Retail Bulletin |access-date=18 April 2011}} 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.{{cite web|url=http://www.dailyecho.co.uk/debusiness/news/display.var.2171195.0.new_man_in_the_bq_hotseat.php |title=New man in B&Q hot seat |publisher=Dailyecho.co.uk |date=4 April 2008 |access-date=18 April 2011}}

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 had worked at Kingfisher for eleven years, including roles at B&Q.{{cite news|last1=Farrell|first1=Sean|title=Kingfisher names French DIY boss Véronique Laury as new chief executive|url=https://www.theguardian.com/business/2014/sep/10/kingfisher-veronique-laury-new-chief-executive|access-date=10 September 2014|work=The Guardian|date=10 September 2014}}{{cite news|last1=Felsted|first1=Andrea|title=Véronique Laury unexpected choice for Kingfisher crown|url=http://www.ft.com/cms/s/0/2bf9a506-38c5-11e4-9526-00144feabdc0.html#axzz3CvbW46We|archive-url=https://ghostarchive.org/archive/20221210201219/https://www.ft.com/content/2bf9a506-38c5-11e4-9526-00144feabdc0#axzz3CvbW46We|archive-date=10 December 2022|url-access=subscription|access-date=10 September 2014|publisher=Financial Times|date=10 September 2014|url-status=live}} In June 2017, Andy Cosslett succeeded Daniel Bernard as chairman.{{cite web|url=https://www.theretailbulletin.com/news/kingfisher_chairman_daniel_bernard_to_step_down_and_be_succeeded_by_andy_cosslett_22-03-17/ |title=Kingfisher chairman Daniel Bernard to step down and be succeeded by Andy Cosslett |publisher=The Retail Bulletin |date=22 March 2017 |access-date=16 June 2017}}{{cite news|author=The Sunday Times |url=https://www.thetimes.com/business-money/article/cosslett-to-scrum-down-atkingfisher-06mxh655g |title=Cosslett to scrum down at Kingfisher | Business | The Times & The Sunday Times |work=The Times |date=26 March 2017 |access-date=16 June 2017}}

In March 2019, it was announced that Laury would be leaving the business at a date to be announced, following the failure of her "One Kingfisher" plan, and a 52.8% collapse in pre tax profits.{{cite web|url=https://www.retail-week.com/home-and-diy/kingfisher-plans-for-laurys-exit-as-profits-crash/7031448.article|title=Kingfisher plans for Laury's exit as profits crash|last=Waller-Davies2019-03-20T07:09:00+00:00|first=Becky|website=Retail Week|access-date=20 March 2019}} In September 2019, Thierry Garnier was appointed as CEO.{{Cite web|url=https://www.retail-week.com/home-and-diy/profile-thierry-garnier-kingfishers-new-chief-executive/7032277.article|title=Profile: Thierry Garnier – Kingfisher's new chief executive|first=Leanne|last=Carr|date=2019-06-28|website=Retail Week}}

In March 2021, following a franchise agreement with Al-Futtaim Group, Kingfisher will expand its B&Q market to the Middle East. The Al-Futtaim Group will run and staff the stores in Saudi Arabia entirely.{{Cite web|date=9 March 2021|title=Britain's B&Q owner to build Middle East business with Al-Futtaim|url=https://www.reuters.com/article/kingfisher-saudi-idINL8N2L7345|access-date=22 March 2021|website=reuters}}{{Cite web|last=Mead|first=Neil|date=9 March 2021|title=Kingfisher announces the signing of a franchise agreement with the Al-Futtaim Group to expand B&Q in the Middle East|url=http://diyweek.net/kingfisher-announces-the-signing-of-a-franchise-agreement-with-the-al-futtaim-group-to-expand-b-q-in-the-middle-east|access-date=22 March 2021|website=DIY Week}}

Kingfisher currently operates over 1,300 stores in eight countries in Europe and in Turkey. Its main retail brands are B&Q, Castorama, Brico Dépôt and Screwfix.{{cite web|url=http://www.kingfisher.com/index.asp?pageid=15 |title=Company overview |publisher=Kingfisher |date=27 October 2012 |access-date=29 November 2012}}

The companies now part of the Kingfisher group are:

• B&Q; operations in the United Kingdom and Ireland
• Brico Dépôt; in France, Spain, Portugal and Romania
• Castorama; in France and Poland
• Koçtaş; 50% joint venture in Turkey
• Screwfix; in the United Kingdom, Ireland and France

• Woolworths Group; spun off June 2001, closed in December 2008.{{cite news |title=Kingfisher announces Woolworths and Superdrug demerger |url=https://www.telegraph.co.uk/finance/2720690/Kingfisher-announces-Woolworths-and-Superdrug-demerger.html|newspaper=The Telegraph |date=5 June 2001 |access-date=10 March 2016}}
• Comet; spun off July 2003, closed in December 2012.{{cite web|url=https://www.bbc.co.uk/news/business-20765983|title=Comet stores open for final day|date=18 December 2012|publisher=BBC|access-date=10 March 2018}}
• Superdrug; sold to Kruidvat Beheer BV in July 2001, then A.S. Watson Group in October 2002.
• MVC; spun off with the Woolworths Group, in July 2005, ceased trading January 2006.{{cite web |url=http://www.bedfordtoday.co.uk/bed-news/Sad-note-as-MVC-is.1299554.jp |title=Sad note as MVC is called into administration |publisher=Bedford Today |date=1 January 2006|access-date=12 February 2009}}

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• [http://www.kingfisher.com/ Official site]
• [http://uk.finance.yahoo.com/q/pr?s=KGF.L Yahoo profile]

{{Kingfisher Plc}}

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Category:Retail companies established in 1982

Category:British companies established in 1982

Category:Companies listed on the London Stock Exchange

Category:Companies based in the City of Westminster

Category:Home improvement companies of the United Kingdom

Category:Multinational companies based in the City of London

Category:Retail companies based in London

Category:Companies in the FTSE 100 Index