The Haub family is reviving plans to list its retail holdings, including DIY chain OBI and discount retailer Kik, in a deal potentially valuing the combined businesses at $2 billion. Tengelmann, the family's investment group, has enlisted bankers to explore spinning off these central European retail assets as soon as this year, according to sources familiar with the matter.

OBI operates over 600 stores across 10 countries and generated €8.2 billion in revenue during its 2024 financial year, while Kik has expanded to more than 4,000 stores in 14 countries. The companies are betting on continued consumer spending in discount retailing and home improvements across central and eastern Europe, despite broader retail caution amid Middle East tensions and inflation concerns.

The move marks a significant shift for Tengelmann, which has held a controlling stake in OBI since 1985. The Munich-based conglomerate traces its roots to 1867 as a tea and coffee importer and has been run by five generations of the Haub family. Christian Haub currently leads the company after his brother Karl-Erivan went missing in 2018.