French group also in exclusive talks for Wolseley’s French plumbing business Brossette
French construction products group Saint-Gobain has snapped up Build Centre, Wolseley’s chain of builders’ merchants, for £145m.
Saint-Gobain is also in exclusive talks for Wolseley’s French heating and plumbing business Brossette, it said in a statement to the City this morning.
Pierre-André de Chalendar, chairman and chief executive of Saint-Gobain, said: “These two acquisitions, which will add more than €1bn of sales, are perfectly in line with the strategy 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.”
Build Center has a network of 148 branches in the UK and reported revenue of £316m.