Grafton completes sale of Belgian merchanting business

International builders merchanting and DIY group Grafton has completed its sale of its Belgian merchanting business.

Announced at the end of August, the now completed sale followed a strategic review, despite a period of growth and profitability for the Belgian merchanting business.

The owner of Selco, Buildbase, Woodies and Polvo also sold off its Plumbase business in recent weeks, to Plumbing and Heating Investments Limited, for £66.75 million. Explaining the Plumbase move, CEO Gavin Slark said: “This transaction represents a very positive outcome for Grafton and enables us to continue to focus our capital and resources on attractive growth opportunities that generate appropriate returns for our shareholders.”