February 3, 2023

Saint-Gobain has signed a £740 million deal to sell Saint-Gobain Building Distribution Ltd to the Stark Group.

The acquired business comprises 600 Jodenon branches and distribution centres, along with Gibbs & Dandy (28 branches across England), JP Corry in Northern Ireland and the specialist brands Jodenon Civils Frazer, Minster and International Timber. Collectively they turn over £2.3 billion a year and employ 8,900 people.

Founded in 1836, Jodenon has been owned by Saint-Gobain since 2000. The sale is the culmination of an 18-month withdrawal by Compagnie de Saint-Gobain from the UK. Saint-Gobain chose Stark after a competitive sales process.

Stark Group A/S is headquartered in Copenhagen and has branches in Scandinavia, Germany and Austria in the retail and distribution of heavy building materials to the trade. With this acquisition, Stark’s annual turnover will be approximately £7.75 billion.

Stark Group is owned by private equity firm CVC Capital Partners.

In 2019, Stark acquired Saint-Gobain’s German distribution business and has since doubled its net sales through organic growth and acquisitions.

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Søren Olesen, CEO of the Stark Group, said: “We have a strategy that successfully targets professional craftsmen and the renovation and maintenance market, where this acquisition fits very well. In 2019, we bought the German distribution company from Saint-Gobain, and there are many similarities in this acquisition. We will do our very best to develop, grow and invest in the business, making it the preferred choice of professional craftsmen in the UK. We have acquired a company that will allow us to continue our growth journey.”

“Despite the current difficult macroeconomic environment, the fundamental drivers for the UK refurbishment and maintenance market with its high demand for energy refurbishment over the coming decades are attractive. We are on a strong growth trajectory, being a good corporate citizen at the core, we value all of our existing employees and are proud of our contributions to reducing emissions.”

Jodenon Managing Director Nadine Matthews, who moved from Jodenon Civils Frazer in May this year, said: “Saint-Gobain is a great company and under the ownership of Saint-Gobain, Jodenon has greatly developed its offering to customers. We are excited to begin the next phase of our journey under the new ownership of the Stark Group.

“We are transforming the way we serve our local builders and trade customers from our nationwide Jodenon network in line with our commitment to providing a market-leading and hassle-free customer experience. Also for national homebuilders, we have a growing network of strategically located supply chain hubs that support these customers with the increasingly sustainable solutions they need. Our Jodenon Partnership Solutions brand is innovating its offering to help social housing clients provide people with high-quality, efficient housing.

“Our unique Build Aviator end-to-end estimating and project management service removes the hassle for clients and our digital transformation is well underway. With the backing and support of the Stark Group, and with over 6,200 brilliant colleagues in our Jodenon family, we are confident in the tremendous opportunity in the construction market in the years to come.”

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