Grafton Group acquires London timber firm T Brewer
DIY group buys timber supplier with three branches in greater London area
Grafton Group chief executive Gavin Slark
Established in 1988, T Brewer, which generated revenues of approximately £14 million last year, supplies timber products throughout London and the home counties. It trades from three branches in Clapham, Enfield and Amersham.
Grafton said the acquisition would provide further opportunities for profitable growth for the group.
In a note to investors, Davy said that while small, the deal would reinforce Grafton’s scope for expansion via its currently under-leveraged balance sheet.
Grafton, which operates the Woodie’s chain across Ireland, and also has a number of existing operations in the UK and Belgium, recently completed the €91.5 million acquisition of the Dutch tool distributor Isero, in what was the group’s largest acquisition to date in continental Europe.
The group is due to issue a trading update for the first half of fiscal 2016 on January 12th with final results for the year ending December 2015 to be announced on March 8th.