Paval Holding, the owner of Dedeman, will acquire Praktiker Hellas, marking its entry into the Greek market and Fairfax's withdrawal from the Greek DIY sector.

The acquisition of Praktiker Hellas by Paval Holding, which owns Dedeman, signals the Romanian company's entry into the Greek market and the withdrawal of Fairfax after a decade in Greece. Brothers Adrian and Dragos Paval, successful entrepreneurs, are expanding their empire, which includes various sectors. Praktiker, with a turnover of €187.5m in 2023, has seen an improvement in profitability but also net losses. The move reflects confidence in Greece's business climate amid economic growth.