Pavăl Holding, the investment company owned by brothers Adrian and Dragoș Pavăl, founders of Romania’s largest DIY retailer Dedeman, has officially acquired Praktiker Hellas, a leading Greek home improvement chain. The strategic acquisition, valued at over €130 million, marks Dedeman’s first international expansion and a milestone for one of Romania’s most successful private companies.
The transaction includes both Praktiker Hellas’s operations (with 17 physical stores, a strong online presence, and over 1,200 employees) and the commercial real estate portfolio currently leased from Eurobank. A notarial pre-agreement was signed with Eurobank for the acquisition of all properties in the portfolio, a key element that secured operational continuity and strategic control over the assets.
Despite entering the bidding process late, Pavăl Holding managed to surpass offers from major international players such as Leroy Merlin (part of France’s Adeo Group) and Bulgaria’s Videolux Holding (Technopolis), by presenting the most competitive and compelling proposal.
A Strategic Entry into a Rebounding Market
The Greek DIY market, estimated at over €1.2 billion annually, is currently experiencing a revival, driven by programs like “Exoikonomo” (government subsidies for energy-efficient home upgrades), increased tourism-related development, and the growth of Airbnb. The market is shifting toward a more mature, value-conscious consumer base, well aligned with Dedeman’s value-for-money approach.
Praktiker Hellas, with its strong national presence and brand recognition, offers Pavăl Holding a ready-made platform to enter this promising market. Plans include reinvestments in the store network, digital transformation, and potentially a rebranding, with speculation that the Dedeman brand name could soon appear in Greece.
“We’ve wanted to take this step for a long time, and today, that dream becomes reality,” said Dragoș Pavăl, President of Dedeman.
“It’s a challenge for us, but also a new beginning, one that we approach with great confidence and responsibility. We are proud that a 100% Romanian brand has managed to cross borders and carry forward the principles we’ve always believed in: respect for people, honest work, and team spirit.”
Cultural Fit, Not Just Business
The acquisition was not only a strategic financial move but also a match in values and culture, according to Dragoș Pavăl.
“We felt from the very beginning a real compatibility with the Praktiker Hellas team, in the way we understand the customer relationship, our care for employees, and our responsibility towards communities,” added Pavăl.
“It wasn’t just a business decision, but a meeting of values that gives us confidence we can build something truly sustainable together.”
The entire transaction is being financed entirely through Pavăl Holding’s own capital, underlining the group’s strong financial autonomy and long-term investment perspective.
The deal was advised by KPMG Legal – Toncescu și Asociații, with support from KPMG Romania (Tax and Advisory), KPMG Greece, and CPA Law, part of the KPMG International legal network.
Karina and Darius Pavăl stepped up to lead Pavăl Holding’s bid to acquire Praktiker Hellas, marking Dedeman’s first international expansion; Karina spearheaded negotiations while Darius will oversee integration and operations in Greece, both actively shaping the firm's regional strategy without neglecting its Romanian market focus.
Continued Commitment to Romania
Despite its move abroad, Dedeman is not slowing down at home. The company continues to invest in its national footprint, with a new store set to open in Mediaș.
“This acquisition in no way means we’re turning away from Romania, on the contrary. We are continuing to invest in our national network to be present wherever our customers need us,” Dragoș Pavăl emphasized.
“Now, with more courage, we dream even further. We want to harness the synergies between the two organizations, taking the best from each. We truly believe that together we can become stronger than we would have been separately.”
Financial Strength and Regional Ambitions
Dedeman, founded in 1992, currently operates:
• 64 physical stores across Romania
• 5 logistics centers
• A fleet of vehicles and an online store
• A product range of over 120,000 items
• More than 13,500 employees
In 2024, Dedeman reached a turnover of 12.2 billion lei, up from 11.5 billion lei in 2023, and a net profit of 1.6 billion lei, up from 1.5 billion lei.
Pavăl Holding, which also has stakes in other Romanian companies such as Alro, Transelectrica, and Cemacon, posted:
• 2024 revenue: 1.8 billion lei
• 2024 net profit: 1.7 billion lei
The acquisition of Praktiker Hellas is seen as a strategic step in becoming a regional powerhouse in the DIY market. It also sends a powerful message about the international potential of Romanian entrepreneurial success stories, particularly those built on organic growth, long-term vision, and deep local market understanding.
