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20 May 2019 07:48
PRESS RELEASE
May 20, 2019
SAINt-Gobain DIVESTS ITS Distribution ACTIVITY IN gERMANY
Saint-Gobain has achieved an important milestone in the acceleration of its portfolio turnover, the aim being to sell more than €3 billion in sales by the end of 2019. Following a competitive sale process, the Group has signed an agreement for the sale of its entire stake in Saint-Gobain Building Distribution Deutschland (SGBDD) to the Stark group, an important player in building materials distribution in Scandinavia.
The finalization of this transaction is subject to approval by the European competition authority and is expected to be completed in the second half of 2019.
It will be based on an enterprise value of €335 million.
In 2018, SGBDD generated revenues of €1,924 million and an operating income of €21 million. Mainly known for its Raab Karcher brand, SGBDD has 220 sales outlets and employs nearly 5,000 people.
ABOUT SAINT-GOBAIN
Saint-Gobain designs, manufactures and distributes materials and solutions which are key ingredients in the wellbeing of each of us and the future of all. They can be found everywhere in our living places and our daily life: in buildings, transportation, infrastructure and in many industrial applications. They provide comfort, performance and safety while addressing the challenges of sustainable construction, resource efficiency and climate change.
€41.8 billion in sales in 2018
Operates in 67 countries
More than 180,000 employees
To learn more about Saint-Gobain
go to www.saint-gobain.com
and follow us on Twitter @saintgobain
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