 |
Lock in savings now before June 1 rate increase! |
 |
Wolseley, Zug, Switzerland, has agreed to sell Build Center, its building materials distribution business in the UK, to French manufacturer and distributor Saint-Gobain. Wolseley has also entered into exclusive negotiations with Saint-Gobain to sell Brossette, its plumbing and heating distribution business in France. Total consideration for the two transactions is £310 million (US$504.9 million).
| We
Deliver Distribution News to Your Inbox Sign up below to receive MDM Update, your free weekly distribution news update by email. |
“The transactions we have announced today are the last significant disposals planned following last year’s strategic review," says Ian Meakins, chief executive of Wolseley plc. "We will continue to focus and invest in our strongest businesses in core markets including building materials and wood solutions in France and plumbing, heating, pipe, climate and associated businesses in the UK."
In the 11 months ended June 30, 2011, Build Center generated revenue of £294 million (US$478.9 million) and trading profit of £4 million (US$6.5 million). In the same period, Brossette had sales of £590 million (US$961 million) and trading profit of £5 million (US$8.1 million).
“These two acquisitions, which will add more than €1 billion (US$1.4 billion) of sales, are perfectly in line with the strategy of Saint-Gobain," says Pierre-André de Chalendar, CEO of Saint-Gobain. "They will further develop our Building Distribution Sector and complement the geographical presence in two of the sector’s key businesses – general building distribution in the UK and plumbing, heating and sanitary products in France – while creating significant synergies, particularly in the areas of purchasing and logistics.”
 |
 Download
the Top 40 Industrial List -FREE |
| View the Top Distributors in 12 Sectors: | |
| 2011 Distribution Landscape Report: Access Now | |
Join MDM's Independent Distributor
Network 
Follow MDM on Twitter
 Critical Profit Driversin Distribution Al Bates, Profit Planning Group, speaks frankly about the most important factors to driving profit. Watch now. iPad users: click here to view. |
 Economic Update:Behind the Moderation MAPI Economist Cliff Waldman discusses some of the factors behind the slowing economic recovery. Watch now. |
 7 Minutes With ...Bell Electrical Supply CEO Burt Schraga discusses the importance of building a strong culture in his organization. Watch now. |
More Audio and Video Features from MDM: |
Think About It: |
|
Training Resources
 |
 |
 |
 |
|||
|
Featured Article: What AmazonSupply.com Means for Independent Distributors $34.95 |
Inventory Management Best Practices with Jon Schreibfeder: DVD + Book $119.00 |
The State of E-Commerce and Catalogs in Distribution $44.95 |
Benchmarks & Best Practices: The Answer Book for Growth-Minded CFOs & Controllers $249.00 |
| Title | Company | Location |
|---|---|---|
| Digital Strategy Manager | Border States Electric | Fargo North Dakota |
| Risk Manager | Border States Electric | Fargo ND |
| Purchasing Manager | PCA SKIN | Scottsdale, AZ |
| BUSINESS DEVELOPMENT MANAGER | Graybar Electric Company | Denver, CO |
| INDUSTRIAL OUTSIDE SALES REPRESENTATIVE | Graybar Electric Company | Phoenix, AZ |
| General Manager | Applied Industrial Technologies | Norfolk, VA |
| Rubber Specialist | Applied Industrial Technologies | Baltimore, MD |
| View ALL Wholesale Distribution Job Listings |
|
|
 |
|
|
|
 |
Leave a Comment