Grafton Group expands Irish footprint with acquisition of Rooneys Homevalue

Published Sep 14, 2023 03:14AM ET

The London-listed building materials distributor, Grafton Group plc (LON:GFTU), announced on Thursday that it is set to acquire Rooneys Homevalue Limited, an Ireland-based distributor of building materials and DIY products. The acquisition will be made via Grafton's portfolio brand, Chadwicks, and is currently subject to approval by the Competition and Consumer Protection Commission in Ireland.

Rooneys Homevalue primarily supports trade customers operating in the residential repair, maintenance and improvement, and new build markets. It also serves a local retail market from its single location in Kells, County Meath. The company generated revenue of €11.0 million (£9.4 million) in the financial year ending on 28 February 2023.

Eric Born, Chief Executive Officer of Grafton Group, commented on the acquisition on Thursday, stating that Rooneys is an ideal fit with Chadwicks' branch network in Ireland. The move is expected to extend Chadwicks' geographic coverage of the fragmented building materials distribution market into an important town within the Dublin commuter belt. Born further added that they see potential for the organic development of this business to support trade customers with a wider offering of building materials and construction products.

Grafton Group plc is an international distributor of building materials to trade customers with leading regional or national positions in the distribution markets in the UK, Ireland, the Netherlands, and Finland. The company trades from approximately 360 branches and employs around 9,000 colleagues. Its portfolio of brands includes Selco Builders Warehouse, Leyland SDM, MacBlair, TG Lynes, EuroMix and StairBox in the UK; Chadwicks and Woodie's in Ireland; Isero and Polvo in the Netherlands; and IKH in Finland.

The financial details of the transaction were not disclosed.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Get The News You Want
Read market moving news with a personalized feed of stocks you care about.
Get The App

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Sign out
Are you sure you want to sign out?
Saving Changes