UK DIY News
Grafton Group Completes Divestment
Grafton Group plc announced on 1 July 2021 that it had entered into an agreement to divest its Traditional Merchanting Business in Great Britain. Grafton is pleased to announce that this divestment completed on 31 December 2021.
Huws Gray - the UK’s largest independent builders’ merchant, which trades from over 100 locations across the UK - is the new owner of the business, which comprises the Buildbase, Civils & Lintels, PDM Buildbase, The Timber Group, Bathroom Distribution Group, Frontline and NDI brands.
In the year to 31 December 2020, Grafton said the Traditional Merchanting Business reported revenue of £828.2 million (2019: £1.02 billion) and adjusted operating profit of £18.8 million (2019: £33.3 million). Gross assets at 31 December 2020 were £497.2 million.
Learn more about the sale to Huws Gray here.
Source : Insight DIY Team
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