Acquisitions (9630K)
July 25 2011 - 2:54AM
UK Regulatory
TIDMCOD
RNS Number : 9630K
Compagnie de Saint-Gobain
25 July 2011
July 25, 2011
Saint-Gobain Signs Agreement with Wolseley to Acquire the Build
Center Network and Brossette
Saint-Gobain has signed an agreement with UK building materials
distributor Wolseley for the acquisition of its British Build
Center network and its French subsidiary Brossette.
Build Center Acquisition
Build Center is the UK's fourth largest general builders'
merchant. With a network of 148 branches located across the UK,
including a large concentration in the dynamic South East, Build
Center offers an excellent geographic fit with the Jewson
network.
It reported revenue of GBP316 million (EUR360 million) for the
fiscal year ended July 31, 2010, with 1,500 employees.
Representing a total amount of GBP145 million (EUR165 million) -
including 86 real estate locations-, the acquisition will enable
Jewson to consolidate its position as leading general builders'
merchant in the UK.
Exclusive negotiations for the Brossette Acquisition
Saint-Gobain and Wolseley entered exclusive negotiations for the
acquisition of Brossette.
Specializing in the distribution of plumbing, heating and
sanitary products in France, the Brossette brand has a very good
reputation among the market. Backed by a network of 361 outlets
across the country, it also promises a strong geographic fit with
the French plumbing, heating and sanitary business of Saint-Gobain
Building Distribution Sector, which primarily operates under the
Cedeo brand.
Brossette generated EUR714 million in revenue in the fiscal year
ended July 31, 2010 and employs 2,650 people.
The EUR186-million acquisition would enable Saint-Gobain to
enhance its position in the plumbing, heating and sanitary
distribution business in France and more broadly in this business
in Europe, where it already has prime positions thanks in
particular to Dahl in the Nordic countries and Graham in the United
Kingdom.
* * *
Pierre-Andre de Chalendar, Chairman and CEO of Saint-Gobain
commented that:
"These two acquisitions, which will add more than EUR1 billion
of sales, are perfectly in line with the strategy 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."
These operations are subject to the approval of the competition
authorities.
* * *
About Saint-Gobain
Located in 64 countries with nearly 190,000 employees,
Saint-Gobain, the world leader in the habitat and construction
markets, designs, manufactures and distributes building materials,
providing innovative solutions to meet growing demand in emerging
and mature countries, for energy efficiency and for environmental
protection.
About Saint-Gobain Building Distribution Sector
The Saint-Gobain Building Distribution Sector posted revenue of
EUR17.3 billion in 2010. With 66,000 employees and a network of
nearly 4,100 outlets in 26 countries, it is the n[deg]1
distribution network for building materials in Europe and also the
n[deg]1 distribution network for plumbing, heating and sanitary
products in Europe. Its main brands are Point.P Materiaux de
Construction, Lapeyre, Jewson, Raab Kaarcher, Dahl and
Optimera.
Analyst/Investor Relations Press Contact
--------------------------------- --------------------------
Florence Triou-Teixeira +33 1 Sophie Chevallon +33 1 47
47 62 45 19 62 30 48
Etienne Humbert +33 1 47 62 30
49
Vivien Dardel +33 1 47 62 44
29
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This information is provided by RNS
The company news service from the London Stock Exchange
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