Compagnie St-Gobain - Acquisition
April 07 2000 - 4:53AM
UK Regulatory
RNS Number:6928I
Compagnie de Saint-Gobain
6 April 2000
Saint-Gobain buys the number 1 German
building materials distributor
Compagnie de Saint-Gobain announces the acquisition on April 6, 2000 of
Raab Karcher, the leading building distributor in Germany. Raab Karcher
is also number 1 in Hungary, number 2 in the Czech Republic, number 3 in
the Netherlands and regional leader in Poland. The group posted sales of
4.5 billion DM (2. 2 billion euros) in 1999, via its approximately 300
sales outlets.
The purchase price for 100% of the shares of Raab Karcher is 360 MDM. The
debt of Raab Karcher being assumed with the acquisition amounts to
approximately 572 MDM. The total of purchase price plus assumed debt
represents approximately 0.23 times the sales of Raab Karcher for 1999
and exceeds slightly the book value.
The acquisition should have a positive effect on net profit in Saint-Gobain's
financial statements for the year 2000.
This acquisition consolidates Saint-Gobain's position as European leader
in building materials distribution. The Group becomes the leader in three
major European countries: France with Point P, the United Kingdom with Meyer and
now in Germany with Raab Karcher. With Meyer and Raab Karcher, Saint-Gobain
becomes co-leader in the Netherlands. This acquisition also provides an
opportunity for Saint-Gobain to gain a foothold in building materials
distribution in Eastern Europe.
Saint-Gobain's Building Distribution Division, which announced on March 23 the
success of the takeover bid for Meyer International Plc, will have estimated
sales for 2000, including the contribution of Meyer International Plc and Raab
Karcher, of estimated 9.7 billion euros which corresponds to approximately 33
percent of the Group's total sales for the year.
The acquisition is subject to approval by the relevant authorities.
Investor Relations Department
Tel.: Florence TRIOU +33 1 47 62 45 19 -
mailto:florence.triou@saint-gobain.com
Tel.: Lounis BEKKAT +33 1 47 62 32 36 -
mailto:lounis.bekkat@saint-gobain.com
END
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