Kingfisher buys online platform Needhelp for €10m

B&Q owner Kingfisher said it had bought online European home improvement services platform NeedHelp for €10m (£9m).

As part of the transaction, Guillaume de Kergariou, the founder of NeedHelp, has reinvested proceeds from the sale in a 20% interest in the business, resulting in Kingfisher owning 80%, the company said on Wednesday. He will also remain as chief executive, it added.

NeedHelp is an online platform that connects customers who need home improvement help, either in-store or online, with vetted professional tradespeople and other skilled experts, Kingfisher said.

Founded in France in 2014, NeedHelp also operates in Switzerland and has recently expanded into Germany, Belgium, Austria, and the Netherlands.

“Through its open architecture, NeedHelp already provides its services to customers in more than 500 stores including Kingfisher's French businesses, Castorama and Brico Dépôt, as well as to a growing number of leading home improvement retailers,” Kingfisher said.