18th Jul 2014 07:28
LONDON (Alliance News) - SIG PLC Friday said it has acquired Sodimat SAS, a specialist distributor of flat roofing products in France, for EUR4.4 million in cash.
"This infill acquisition is in line with the group's strategy of expanding its French roofing business, Lariviere, in the south of France, and strengthening its offering in flat roofing, which SIG believes to be an attractive segment of the market," SIG said in a statement.
Sodimat, which is being sold by its founders, the Sitbon family, made a EUR550,000 pretax profit in 2013. It had EUR1.4 million in gross assets at the end of that year.
By Samuel Agini; [email protected]; @samuelagini
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