6309 Monarch Park Place, Suite 203
Niwot, CO 80503, USA
Phone (303) 443-5060
Toll free (888) 742-5060
Dahl has a network of 260 outlets in Sweden (81 outlets), Norway (50 outlets), Denmark (60 outlets) and Finland (22 outlets), as well as 43 outlets in Poland and 4 in Estonia. It has a leadership position in each of these countries. In 2003, it posted sales of SEK 12.5 billion (euro 1.4 billion) and employs 3,400 people.
The cash consideration for the acquisition amounts to SEK 6,311 million (euro 686 million), including euro 322 million in the form of transferred debt. This represents respectively 0.5 and 8.6 times the amount of 2003 sales and proforma operating income (euros 80 million). The acquisition will have a positive impact as of 2004 on the group's net income (after taxes and goodwill amortization).
This acquisition underscores Saint-Gobain's growth strategy and ambitions for its Building Distribution Division. It is consistent with Saint-Gobain's strategy combining organic growth, external growth in the new businesses (Building Distribution, High Performance Materials) and development in emerging countries, supported by a strong balance sheet.
The Building Distribution Division of Saint-Gobain employs 50,000 people, and reported 2003 sales of euro 11.3 billion. The Dahl acquisition will enable it to consolidate its position as the European leader in building materials distribution, through a network of over 3,100 sales outlets in 14 countries. The Division's main brands are Point.P, Jewson, Raab Karcher, Lapeyre and La Plateforme du Batiment. Its major specialized brands for the distribution of sanitary, heating and plumbing products are Cedeo in France and Graham in the United Kingdom.