14th Sep 2023 09:08
(Alliance News) - Grafton Group PLC on Thursday said that its subsidiary Chadwicks has entered into an agreement to buy Rooneys Homevalue Ltd, a distributor of building materials.
Grafton, a Dublin-headquartered building materials supplier and DIY retailer, said completion is subject to approval by Ireland's Competition & Consumer Protection Commission.
Rooneys for financial year 2023 that ended on February 28 reported revenue of EUR11.0 million.
Grafton Chief Executive Officer Eric Born said: "Rooneys is an ideal fit with Chadwicks branch network in Ireland and will extend geographic coverage of the fragmented building materials distribution market into an important town within the Dublin commuter belt. We see potential for the organic development of this business to support trade customers with a wider offering of building materials and construction products."
Grafton shares were 0.5% lower at 895.00 pence each on Thursday morning in London.
By Tom Budszus, Alliance News reporter
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