(Alliance News) - Grafton Group PLC said on Wednesday it has acquired Cork, Ireland-based building materials supplier Sitetech Building Products.
The Dublin-based building materials distributor and DIY retailer did not disclose a purchase price and added that the acquisition is subject to approval by the Competition & Consumer Protection Commission in Ireland.
In 2020, Sitetech reported revenue of EUR16.9 million. Sitetech is primarily a distributor of accessories for brickwork, concrete and formwork and construction chemicals used in the early stage construction of multi-unit buildings, Grafton explained. It operates from Cork and Dublin.
Chief Executive Gavin Slark said the acquisition would enable Grafton to offer a broader range of products and services in a new market segment.
Shares in Grafton were down 0.2% at 1,201.20 pence on Wednesday morning in London.
By Heather Rydings; heatherrydings@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Grafton Group (GFTU)