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Grafton completes divestment of UK merchanting business

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Building materials distributor Grafton Group has confirmed that it has completed the divestment of its traditional merchanting business in the UK.

The group announced the sale of the business to builder merchant Huws Gray in July for an enterprise value of £520 million.

Grafton, which owns Woodies DIY and Chadwicks here, confirmed the deal following a strategic review of the business which commenced in April. In the year to December 2020, it reported revenue of £828.2 million and adjusted operating profit of £18.8 million.

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Grafton closes sale of traditional merchanting business in BritainGrafton closes sale of traditional merchanting business in Britain via IrishTimesBiz
Source: IrishTimesBiz - 🏆 6. / 77 Read more »