Jewson sold to new Danish owners for £740m

Grant Prior 2 years ago

Saint-Gobain has agreed the sale of all its merchanting brands in the United Kingdom – including the builders and timber merchant Jewson – to the STARK group.

The £740m sale will see 600 branches and distribution centres change ownership to STARK which is headquartered in Copenhagen and has  operations in the Nordics, Germany, and Austria.

STARK Group will acquire and operate Saint Gobain Building Distribution Ltd, which includes Jewson the general builders’ merchant, local brands Gibbs & Dandy and JP Corry in Northern Ireland, the specialist brands Jewson Civil  Frazer and Minster, as well as International Timber.

The acquired business is expected to generate net sales of around £2.3bn this year.

STARK Group is among Europe’s fastest-growing retailers and distributors of building materials achieving annual pro forma net sales of around £7.75bn including the  British acquisition.

Group CEO Søren P. Olesen said: “We have a strategy that successfully focuses on professional craftsmen and the renovation and  maintenance market, which this acquisition fits very well into.

“In 2019, we bought Saint-Gobain’s  German distribution business, and there are many similarities in this acquisition. We will do our  utmost to develop, grow and invest behind the company making it the professional craftsmen’s  preferred choice in the UK. We have acquired a business with whom we can continue our growth  journey.

“Despite the current tough macro-economic environment, the fundamental drivers for the  renovation and maintenance market in the UK with its large need for energy renovation in the  coming decades are attractive.”

Nadine Matthews, Managing Director, Jewson said: “Saint-Gobain is a great business and under Saint-Gobain’s ownership Jewson has developed its offer for customers a huge amount. We’re delighted to be embarking on the next phase of our journey under the new ownership of The STARK Group.

“We’re transforming how we serve our local builders and trade customers from our nationwide Jewson network in line with our commitment to provide a market leading and hassle free customer experience. Equally for National housebuilders we have a growing network of strategically located supply chain hubs that support these customers with the increasingly sustainable solutions they need. Our Jewson Partnership Solutions brand is innovating its offer to help social housing customers provide people with high quality, efficient homes.

“Our unique Build Aviator end to end estimating and project management service is taking hassle away for customers and our digital transformation is well underway. With The Stark Group’s support and backing, and with more than 6,200 brilliant colleagues in our Jewson family, we’re confident about the tremendous opportunities in the construction market in the years ahead.”

Latest news

Taylor Wimpey chief honoured with CBE

Jennie Daly recognised in King's Birthday honours
19 hours ago

Geoffrey Osborne supply chain hit for £26m

More than 500 suppliers and subcontractors left holding unpaid bills
2 days ago

SME contractors agree 4% pay rise for site workers

Workers will also get an extra day of holiday
2 days ago

Labour to mothball £320m A27 job to fix potholes

Manifesto confirms Arundel Bypass canned as "poor value for money"
2 days ago

Lendlease’s £1.9bn Smithfield Birmingham scheme approved

Initial work to start later this year despite questions over Lendlease's degree of involvement
2 days ago

Crest Nicholson rejects £650m Bellway bid

Second Bellway approach rebuffed
2 days ago

Hill submits £800m East London estate rebuild plan

Over 1,900 homes to be built in five phase at Teviot Estate in Poplar
3 days ago

Plan approved for 8,500-seat Edinburgh indoor arena

Construction expected to start next year once a contractor is appointed
2 days ago

Statom starts on £25m Bristol Airport precast car park

Major work package on transport upgrade being overseen by Griffiths Farrans JV
3 days ago

Build problems plunge Crest Nicholson to a £31m loss

House builder unearths more defects on completed sites
3 days ago

Rebooted Amey lifts contract win rate to 1 in 3 bids

Amey chief says firm exceeded expectations in first year under new owners
3 days ago

BAM Nuttall fined £2.3m after worker drowned

Court hears how series of safety failures led to tragedy
4 days ago

OCU buys Scottish civils contractor RJ McLeod

Deal takes multi-utility infrastructure specialist revenue to over £800m
4 days ago

£220m plan to restore secret wartime tunnels approved

Tunnels under High Holborn to become cultural exhibition space
4 days ago

Galliford Try wins £69m Scottish school job

Deal sealed on Paisley Grammar School project in Renfrewshire
3 days ago

Balfour wins design for £690m Skye transmission job

Main work contract for 137km power line to be awarded later this year
4 days ago

Student and resi developer Fortis goes under

Cheshire based developer follows construction arm into liquidation
4 days ago

Construction output falls for third month running

Heavy rain and strong winds blamed for sharp fall in activity in April
4 days ago

Plan in for Leeds 27-storey block of flats

390 flats planned at former Morgan Sindall office site
4 days ago

Firms readied for £1.5bn Parliament estate upkeep deal

Invitation to tender due to go out next month
4 days ago

Amey switches kit supplier

Deal with HSS was worth £24.5m a year to rental specialist
4 days ago

Track workers scatter to avoid runaway rail trolley

Track trolley careers 1km towards work site
4 days ago

Direct delivery model pays off as Murphy profit soars to £67m

Group operating margin jumps from 3% to 5% in record year
5 days ago

Ex-Galliard boss to lead Battersea next building phase

Don O’Sullivan joins as plans advance to start phase 3C of power station redevelopment
5 days ago

£100m Digbeth 33-storey flats job out to bid

483 flats will be delivered for Clarion housing association
5 days ago

Van Elle fined £233,000 after piling rig kills driver

Court hears how tragedy was caused by poorly maintained plant
5 days ago

Renew buys utilities contractor Excalon

Infrastructure giant expand into electricity transmission market with £26m deal
5 days ago

Planning for new homes plunges to record low

Home builders call for urgent action from incoming government
5 days ago

JTRE starts £400m 21-floor London tower scheme

Office block and 64 affordable homes to be built at 220 Blackfriars Road site
6 days ago

R G Carter construction profits up despite 24% revenue fall

Selective client choice help profit jump to £6m from £1m previously
6 days ago

Contractor services