Acquisition of Thompsons Merchanting in England

RNS Number : 0632B

Grafton Group PLC

27 March 2013

 

Grafton Group plc

Acquisition of Thompsons Merchanting Business in England

Grafton Group plc, the builders merchanting and DIY Group with operations in the UK, Ireland and Belgium, announces that it has acquired the trade and selected assets of Thompson Building Centres and Thompson Associated Plumbing Supplies (TAPS).

This acquisition extends geographic coverage of the Group's UK merchanting business to the North East of England where the acquired business trades from five builders merchanting branches located in Sunderland, Newcastle, Durham, Gateshead and South Shields.  The acquired business also incorporates five plumbing and heating branches.   Four of the plumbing and heating branches trade from properties shared with builders merchanting branches and one from a stand-alone site in Birtley.   The Sunderland based Thompsons business was founded 60 years ago and developed a strong position in the North East merchanting market.  Thompsons was placed into administration earlier this month.

The acquired branches turned over circa €20 million in 2012.  The total purchase consideration of €3.8 million was satisfied in cash and relates to the purchase of five freehold properties and stock.

For further information please contact:

Grafton Group plc ([phone])

Gavin Slark, Chief Executive Officer

Colm ó Nualláin, Finance Director

Murray Consultants ([phone])

Joe Murray

This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange.

 

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