News Formal

Grafton completes divestment of UK merchanting business

  • 📰 RTEbusiness
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 61%

United Kingdom News News

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 16. in UK

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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 »