Merchanting and DIY giant Grafton Group is building its presence in the Netherlands again with its second acquisition in the territory within just 12 months.
Grafton will purchase Gunters en Meuser B.V. ("G&M"), a market leader in the distribution of tools, fixings and ironmongery in the Greater Amsterdam Area. Completion is expected in January and is subject to approval by the Dutch competition authority. G&M trades from 14 branches and reported revenue of €33.4 million for 2015.
The move follows Grafton's purchase of Isero in November 2015 - another specialist distributor of tools, ironmongery and fixings in the Netherlands. The G&M acquisition will complement Isero and the combined business will trade from a network of 53 branches making it, according to Grafton, the market leader in the Netherlands tools, fixings and ironmongery market where it will have strong positions in the country's five largest cities.
"The acquisition of G&M is a unique strategic opportunity for our existing business in the Netherlands to gain a strong presence in the Greater Amsterdam Area," said Gavin Slark, Grafton Chief Executive Officer. "G&M is a high quality business and brand that is synonymous with the ironmongery market in Amsterdam where it has traded for 190 years. This will be a further important step in the Group's development strategy in the Netherlands and increases our exposure to the growing Dutch economy. The enlarged business should also provide a good platform to capitalise on other appropriate development opportunities."
Grafton has operations in the UK, Ireland, the Netherlands and Belgium. The Group recently reported that revenue had grown, with the merchanting division increasing despite pricing pressures in a competitive trading environment.
