New Growth Platform in Nordic Region
22 June 2021
Grafton Group plc (“Grafton or the Group”), the building materials distributor and DIY retailer with operations in the UK, Ireland and the Netherlands, is pleased to announce that it has signed an agreement with Mr. Ilkka Alakortes and his family to acquire Isojoen Konehalli Oy and Jokapaikka Oy (“IKH”), one of the largest workwear and personal protective equipment (“PPE”), tools, spare parts and accessories technical wholesalers and distributors in Finland.
The consideration payable for IKH is €199.3 million on a cash and debt free basis. It will be paid in cash on completion and will be entirely funded from the Group’s existing cash resources. The acquisition is expected to complete next month.