Grafton Group Expands with Acquisition of Spanish Distributor Salvador Escoda
Ireland/Spain: Grafton Group, the Irish building materials distributor and owner of Woodie’s DIY and Chadwicks, has announced its acquisition of Salvador Escoda, a Spanish distributor of air conditioning and heating products. The transaction, valued at up to EUR 132 million (USD 140 million), aligns with Grafton's strategic focus on expanding through platform businesses in new markets with growth potential.
In conjunction with the acquisition announcement, Grafton also brought forward its trading update, reporting group revenue of GBP 1.82 billion (EUR 2.18 billion / USD 2.37 billion) for the period ending October 20, marking a 3.7% decrease from the previous year. Adjusting for constant currency, like-for-like revenue showed a 1.6% decline in the four-month period to October 20. Grafton indicated that full-year operating profit expectations remain unchanged.
Source: Irish Times