Grafton Group

M&A Activity • Nov 29, 2021

National Storage Mechanism | Additional information

RNS Number : 8664T

Grafton Group PLC

29 November 2021

Update on Divestment of Traditional Merchanting Business in Great Britain

29 November 2021

Grafton Group plc ("Grafton") announced on 1 July 2021 that it had entered into an agreement to divest its Traditional Merchanting Business in Great Britain and that Huws Gray, the purchaser, would be notifying the transaction to the Competition and Markets Authority ("CMA"). 

Grafton notes the announcement today by the CMA that its Phase 1 review concluded that it is or may be the case that the merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom and is therefore considering whether to accept an undertaking in lieu of a Phase 2 reference.

The divestment is expected to close by 28 February 2022 and completion is not conditional on the outcome of the CMA process. 

For further information please contact:

Grafton Group plc               +353 1 216 0600

Gavin Slark                            Chief Executive Officer        

David Arnold                         Chief Financial Officer

Murray                                  +353 1 498 0300

Pat Walsh

MHP Communications        +44 20 3128 8100      

Andrew Jaques/James Midmer

About Grafton

Grafton Group plc is an international distributor of building materials to trade customers and has leading regional or national positions in the UK, Ireland, the Netherlands, and Finland. Grafton is also the market leader in the DIY retailing market in Ireland and the largest manufacturer of dry mortar in the UK where it also operates a market leading staircase manufacturing business.

For further information visit www.graftonplc.com  

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DISGCBDBCBDDGBC