Praktiker exits the Greek market as Romania’s Dedeman takes over

The rebranding process began at the store on Piraeus Street in Tavros and will gradually extend across the entire network of 17 stores, accompanied by extensive renovations and changes to retail operations.

The acceleration of the rebranding, which was initially scheduled for 2027, forms part of the strategy of Pavăl Holding, which acquired Praktiker Hellas from Fairfax Financial Holdings in the summer of 2025. Although the purchase price was not officially disclosed, reports in the Greek and Romanian markets estimated the transaction value at between €120 million and €140 million.

The acquisition marked Dedeman’s first expansion beyond Romania, where the group, owned by brothers Dragoș and Adrian Pavăl, has become the country’s largest DIY retail chain, competing with international players such as Leroy Merlin and Hornbach.

€39 Million Capital Injection

The restructuring process has already begun at the corporate level. In February 2026, Praktiker Hellas was renamed Dedeman Hellas, followed by two share capital increases totalling €39 million.

The absorption of two subsidiaries has also been completed: Adam Logistics, a company that owned a large 24,703 sq.m. logistics property in Sindos, Thessaloniki, which was acquired by Premia Properties last March for €17 million, and Petral, a former subsidiary of Southrock operating in property management.

When the acquisition was announced in July 2025, Pavăl Holding disclosed that it had signed a preliminary agreement with Eurobank to acquire properties housing Praktiker stores that were operating under lease arrangements. According to reports in the Romanian press, the portfolio comprises eight commercial properties, including locations in Tavros, Elliniko, Metamorfosi, Patras and Thessaloniki.

The Challenge of the Greek Market

Dedeman’s entry into Greece comes at a time when the home renovation and building energy-efficiency markets are creating additional opportunities for retailers specialising in construction materials and home improvement products. The Romanian group is acquiring an established nationwide network, recognised retail locations and access to a market where demand is driven by both private residential needs and tourism and commercial development.

According to the Romanian business press, the new owners’ initial plans also included exploring further network expansion in Attica and Thessaloniki, although no specific investment programme for new stores has been announced.

Pavăl Holding also has an investment presence in the real estate and hospitality sectors, having made investments outside Romania, including in the Swiss hotel market.