Five acquisitions added to Grafton list

Grafton Group has made a further five acquisitions since the end of August, adding 15 branches to its merchanting network in Britain.

This brings acquisitions made since the start of the year to 14 and takes the total cost to more than €90 million.

Grafton has also added 10 greenfield sites in Britain this year. Combined with acquisitions, this has increased by 50 the number of locations from which Grafton trades in the UK. It now boasts 280 locations in all, 237 of them in Britain and 43 in Ireland.

The acquisitions and greenfield additions are expected to be earnings neutral in the current year but will contribute to Grafton's profitability next year.

The company also said profits for 2002 remained in line with expectations.

The five companies acquired since August include JKS, a seven-branch plumbers merchanting business in Manchester and the Lancashire area. Grafton has also bought Henry Aizlewood & Sons, a four-branch builders merchant in south Yorkshire.

These two acquisitions add to its presence in the north of England, an area in which it has not been so well represented in the past.

In addition, Grafton has acquired BJ White, a two-branch plumbers merchanting business in Somerset and Dorset, and Lafford & Leavey, a single-branch builders merchants in Reading. It also bought a single-branch builders merchants in Belfast, Peter Woods.

The company said its consistent strategic focus on creating a strong merchanting network in Britain provided continuing organic and acquisition growth opportunities.

Aside from the north of England, the other part of Britain in which Grafton has yet to establish a significant presence is Wales.