Ferguson has completed the sale of Stark Group, its Nordics building materials distribution business, to an affiliate of Lone Star Funds, a global private equity firm, for €1 billion (US$1.2 billion).
Ferguson said in 2017 it would divest its Nordic division, part of a number of changes at the distributor that included rebranding from Wolseley to Ferguson plc and appointing a new CEO for its U.S. business, Ferguson Enterprises.
In the year ended 31 July 2017, Stark Group generated sales of €2.2 billion (US$2.6 billion).
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