Tuesday, 3 April 2012
Saint Gobain completes Build Center acquisition
The branches to be divested represent collective revenues of £35 million.
The Build Center network is the UK's fourth largest general builders' merchant. At the time of the sale, the Build Center network numbered 148 branches across the UK, including a large concentration in the south east.
It reported revenue of GBP 324 million (€390 million) for the fiscal year ended July 31, 2011, with 1,527 employees.
The acquisition will enable Jewson to consolidate its position as leading general builders' merchant in the UK. Saint Gobain's purchase of French Wolseley brand Brossett has also been completed.
"These two acquisitions will add more than €1 billion of sales and strengthen our positions in the sustainable habitat market" Said Pierre-André de Chalendar, Chairman and CEO of Saint-Gobain.
"They will further develop our Building Distribution Sector and complement the geographical presence in two of the Sector's key businesses -- general building distribution in the UK and plumbing, heating and sanitary products in France --, while creating significant synergies, particularly in the areas of purchasing and logistics."
Original article published here