The German DIY chain OBI wants to take over its competitor, Austria’s Baumax, and has already entered into negotiations with Baumax’s lenders, according to ČTK. The Austrian DIY operator has suffered from falling sales thanks in part to the slow residential markets and low demand. This led it to begin restructuring its debt with the financing banks. For OBI, this would be its largest acquisition ever, though Reuters writes that no confirmation on the reports has been offered by either party. OBI is active across 11 countries in Europe and has a network of 580 stores. Baumax has 127 stores in six European countries.
