SAINT GOBAIN : Compagnie de Saint-Gobain Acquisition
04/02/2012| 04:21am US/Eastern
RNS Number : 5722A
Compagnie de Saint-Gobain
02 April 2012
April 2, 2012
Completion of the Brossette and Build Center Acquisitions
On March 30, 2012, Saint-Gobain completed the acquisition of Brossette from Wolseley, after the transaction was approved by France's competition authorities on March 23 subject to the divestment of 22 outlets representing aggregate sales of some EUR30 million.
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 EUR726 million in revenue in the fiscal year ended July 31, 2011 and employs 2,650 people.
The acquisition will enable Saint-Gobain to enhance its position in the plumbing, heating and sanitary distribution business in France and more broadly in Europe, where the Group already has prime positions, thanks in particular to Dahl in the Nordic countries, Graham in the United Kingdom, Sanitas Troesch in Switzerland and Tadmar in Poland.
Build Center acquisition
The acquisition of Build Center, carried out on November 4, 2011, was authorized by the UK Office of Fair Trading on February 8, 2012 subject to the divestment of 23 branches representing aggregate revenues of some GBP 35 million (EUR42 million).
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 GBP 324 million (EUR390 million) for the fiscal year ended July 31, 2011, with 1,527 employees.
The acquisition will enable Jewson to consolidate its position as leading general builders' merchant in the UK.
<<These two acquisitions will add more than EUR1 billion of sales and strengthen our positions in the sustainable habitat market" commented Pierre-Andre de Chalendar, Chairman and CEO 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.">>
Saint-Gobain, the world leader in the habitat and construction markets, designs, manufactures and distributes building materials, providing innovative solutions to the challenges of growth, energy efficiency and environmental protection. With 2011 sales of EUR42.1 billion, Saint-Gobain operates in 64 countries and has nearly 195,000 employees.
The Saint-Gobain Building Distribution Sector posted revenue of EUR18.5 billion in 2011. With 67,000 employees and a network of over 4,200 outlets in 26 countries, it is the no.1 distribution network for building materials in Europe and also the no.1 distribution network for plumbing, heating and sanitary products in Europe. Its main brands are Point.P, Lapeyre, Jewson, Raab Kaarcher, Dahl and Optimera.
For more information about Saint-Gobain, visit www.saint-gobain.com.
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