The parent company of DIY retailer B&Q, Kingfisher, has admitted its attempt to add to its portfolio of brands with the purchase of French chain Mr Bricolage is now ‘uncertain’ after the current owners communicated reservations over the deal.

Despite agreeing a buyout price in principal of approximately £200m, Kingfisher has announced that the transaction for the continental home improvement label may still yet falter at the final hurdle.

“Kingfisher has been made aware that both the majority of the board of Mr Bricolage and the ANPF, a major shareholder of Mr Bricolage, have reservations in relation to the transaction but has yet to receive clarification of their positions,” the statement read.

“The Tabur family, another major shareholder and signatory to the agreement, has confirmed that they remain committed to the transaction.

“The implications for the transaction are currently uncertain. Kingfisher will update investors in due course.”

Kingfisher already holds presence in France with ownership of the Castorama brand and recently installed its former boss Veronique Laury (pictured) as the group’s new chief executive, replacing Sir Ian Cheshire.