Grafton Group plc
Completion of Polvo Acquisition:
Grafton Group plc is pleased to announce the acquisition of Polvo BV, a distributor of ironmongery, tools, fixings and related products trading from 51 branches in the Netherlands on the 1st July 2019. The acquisition of Polvo, a unique opportunity to acquire a leading business and brand, complements our established Isero business in the Netherlands and consolidates its market leadership position in this segment of the merchanting market where it now trades from 113 branches.
Disposal of Belgian Business
Grafton Group plc (“Grafton”), the international builders merchanting and DIY Group, announced on 30 August 2019 that it had entered into a conditional agreement for the sale of its Belgian merchanting business. Grafton is pleased to announce that this transaction completed on 4 October 2019.
Disposal of Plumbase
Grafton Group plc (“Grafton” or “the Group”), the international builders merchanting and DIY Group, announces that on 1 October 2019 it completed the disposal of Plumbase, its specialist UK plumbing and heating business, to Plumbing and Heating Investments Limited (“PHIL”), a UK company engaged in the distribution of plumbing and heating products. Consistent with Grafton’s recent corporate activity, including the acquisition of Polvo on 1 July 2019 and the agreement to sell the Group’s Belgian operations, this announcement follows a strategic review culminating in a decision to divest Plumbase. The disposal of Plumbase is in line with the Group’s strategy of orientating towards higher returning businesses with good long-term growth prospects.