The national Jewson builders merchants chain is being sold in a 拢740 million deal.
European building materials distributor Stark Group has acquired the business from Compagnie de Saint-Gobain SA. The transaction is expected to close in the spring of 2023.
Jewson is being sold as part of a job lot of companies including Gibbs & Dandy and JP Corry in Northern Ireland, specialist brands Jewson Civils Frazer and Minster, as well as International Timber.
They make up Saint-Gobain Building Distribution Limited, which is headquartered in Long Eaton, in Derbyshire, and which is set to have net sales of around 拢2.3 billion this year.
Denmark-based Stark Group said the acquisition will take its total annual net sales to around EUR 9 billion (or 拢7.74 billion). In a statement it said it had doubled net sales through organic growth and acquisitions since 2019 when it acquired Saint-Gobain鈥檚 German distribution business.
Jewson has branches across the 海角视频 supplying trades people with building materials, roofing and landscaping products. It also has kitchen and bathroom showrooms and provides tool hire services as well as click and collect services.
Stark Group chief executive S酶ren P. Olesen said: 鈥淲e have a strategy that successfully focuses on professional craftsmen and the renovation and maintenance market, which this acquisition fits very well into.
鈥淚n 2019, we bought Saint-Gobain鈥檚 German distribution business, and there are many similarities in this acquisition.
鈥淲e will do our utmost to develop, grow and invest in the company making it the professional craftsmen鈥檚 preferred choice.
鈥淒espite the current tough macro-economic environment, the fundamental drivers for the renovation and maintenance market in the 海角视频 are attractive.
鈥淲e are facing a challenging transition year, but it is a solid company that we can make thrive and grow.
鈥淭he more than 600 branches and distribution centres are in good locations across the entire 海角视频. We will invest in the business, the people, and the distribution. We have acquired a company with whom we can continue our growth journey.鈥
In a statement Jewson said: 鈥淭he planning for this transition is underway and our aim is to make sure that the transition is seamless and smooth for our customers.
鈥淭here is no change for now. Jewson continues to operate and trade as normal and we remain on hand to support you with all your needs as before 鈥 no change.鈥
