Jewson sold to new Danish owners for £740m

Grant Prior3 years ago

Saint-Gobain has agreed the sale of all its merchanting brands in the United Kingdom – including the builders and timber merchant Jewson – to the STARK group.

The £740m sale will see 600 branches and distribution centres change ownership to STARK which is headquartered in Copenhagen and has operations in the Nordics, Germany, and Austria.

STARK Group will acquire and operate Saint Gobain Building Distribution Ltd, which includes Jewson the general builders’ merchant, local brands Gibbs & Dandy and JP Corry in Northern Ireland, the specialist brands Jewson Civil Frazer and Minster, as well as International Timber.

The acquired business is expected to generate net sales of around £2.3bn this year.

STARK Group is among Europe’s fastest-growing retailers and distributors of building materials achieving annual pro forma net sales of around £7.75bn including the British acquisition.

Group CEO Søren P. Olesen said: “We have a strategy that successfully focuses on professional craftsmen and the renovation and maintenance market, which this acquisition fits very well into.

“In 2019, we bought Saint-Gobain’s German distribution business, and there are many similarities in this acquisition. We will do our utmost to develop, grow and invest behind the company making it the professional craftsmen’s preferred choice in the UK. We have acquired a business with whom we can continue our growth journey.

“Despite the current tough macro-economic environment, the fundamental drivers for the renovation and maintenance market in the UK with its large need for energy renovation in the coming decades are attractive.”

Nadine Matthews, Managing Director, Jewson said: “Saint-Gobain is a great business and under Saint-Gobain’s ownership Jewson has developed its offer for customers a huge amount. We’re delighted to be embarking on the next phase of our journey under the new ownership of The STARK Group.

“We’re transforming how we serve our local builders and trade customers from our nationwide Jewson network in line with our commitment to provide a market leading and hassle free customer experience. Equally for National housebuilders we have a growing network of strategically located supply chain hubs that support these customers with the increasingly sustainable solutions they need. Our Jewson Partnership Solutions brand is innovating its offer to help social housing customers provide people with high quality, efficient homes.

“Our unique Build Aviator end to end estimating and project management service is taking hassle away for customers and our digital transformation is well underway. With The Stark Group’s support and backing, and with more than 6,200 brilliant colleagues in our Jewson family, we’re confident about the tremendous opportunities in the construction market in the years ahead.”

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Jewson sold to new Danish owners for £740m

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