REG - Compagnie St-Gobain - Disposal

Compagnie de Saint Gobain SAAnnouncement

12/12/2022 07:45

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RNS Number : 3498J  Compagnie de Saint-Gobain  12 December 2022

 

 

SAINT-GOBAIN DIVESTS ITS DISTRIBUTION BUSINESS IN THE UK

Following a competitive sale process, Saint-Gobain has signed a binding
agreement for the sale of all its merchanting brands in the United Kingdom -
including the builders and timber merchant Jewson - to the Stark group.

 

The divested assets are expected to generate revenues of around €2.7 billion
in 2022 with an operating margin of around 2%. They comprise 600 outlets and
employ 8,900 people. The divestment is based on an enterprise value of £740
million, i.e. around €850 million.

 

This transaction is expected to be completed in the first quarter of 2023 and
is not subject to any external conditions. Saint-Gobain will then no longer
have any distribution businesses in the United Kingdom.

 

It follows the divestment of specialist distribution brands in the United
Kingdom over the last 18 months representing around €650 million of revenues
at around breakeven in terms of operating margin, based on an enterprise value
of around €200 million.

 

These divestments are part of Saint-Gobain's continued business profile
optimization strategy to enhance the Group's growth and profitability in line
with its "Grow & Impact" plan.

 

 

ABOUT SAINT-GOBAIN

Worldwide leader in light and sustainable construction, Saint-Gobain designs,
manufactures and distributes materials and services for the construction and
industrial markets. Its integrated solutions for the renovation of public and
private buildings, light construction and the decarbonization of construction
and industry are developed through a continuous innovation process and provide
sustainability and performance. The Group's commitment is guided by its
purpose, "MAKING THE WORLD A BETTER HOME".

 

€44.2 billion in sales in 2021

166,000 employees, locations in 76 countries

Committed to achieving Carbon Neutrality by 2050

For more information about Saint-Gobain,

visit www.saint-gobain.com and follow us on Twitter @saintgobain

 

 

 

 

 

 

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