Dedeman, the construction materials and interior decorations retailer owned by the Paval brothers, has bought a 3,000 sqm plot of land from ICMA, a producer of heaters and boilers, according to Profit.ro.

Dedeman is the leader of the domestic DYI market, with a turnover of over RON 5.2 billion (EUR 1.16 billion), a 20 percenet growth from 2015. The company’s net profit exceeded RON 713 million in 2016 (EUR 158 million), which was 26.6 percent higher than the 2015 level.

The company has been on the market since 1992 and it currently has a 48-store network, with surfaces between 7,500 and 18,000 square meters, over 45,000 products in each unit and over 10,000 employees.

ICMA was taken over in 1997 by Energi-Co Holding, and later the shares were transferred to Beta Industrie Invest. A package of almost 8 percent of shares is owned by SIF Muntenia. The company, listed on the stock exchange, has a market cap of around RON 665,000.