STARK Group A/S CEO, Søren P Olesen
STARK Group A/S has now convincingly entered the UK market ahead of plans.
STARK Group has completed the acquisition of more than 600 dedicated builders’ merchant, specialist, and distribution branches and a major timber importer and distributor. The separation from former owner Saint-Gobain UK Ltd has been accelerated. Hence, the acquisition closes on the meteorological calendar’s official first day of spring.
When announcing the acquisition on 12th December 2022, the parties planned for a closing date later this year.
Group CEO Søren P. Olesen says: ”We are very pleased to have completed this acquisition in great time, having announced the deal in mid-December. We look very much forward to welcoming nearly 9,000 colleagues and many new tradespeople to our customer list in the UK. We have a strategy that successfully focuses on professional tradespeople and the renovation and maintenance market. The UK is an attractive market with solid population growth, one of Europe’s oldest housing stocks, and a huge potential for energy renovations.”
“We are facing a challenging transition year, but we have acquired a company that we can make thrive and grow. The more than 600 branches and distribution centres are in good locations across the entire UK. We will invest in the business, the customers, the employees, and the distribution. We have acquired a company with whom we can continue our growth journey.”
The builders’ merchant, Jewson
The acquisition takes STARK Group’s total pro forma annual net sales to around €9b. The combined company has more than 20,000 employees and approximately 1150 dedicated builders’ merchants, specialists, and distribution centres. STARK Group is a leading retailer and distributor of heavy building materials across Europe and operates in the Nordics, Germany, Austria and now the UK.
STARK Group in the UK will be known as STARK Building Materials UK Ltd. The company comprises some of the UK’s leading brands in retail and distribution of building materials to professional craftsmen. These include the builders’ merchant Jewson, strong local brands such as Gibbs & Dandy and JP Corry in Northern Ireland, specialist brands Jewson Civils Frazer, Minster and as International Timber.
A spokesperson for Saint-Gobain says: “We’re pleased to have successfully and efficiently completed the divestment of Saint-Gobain Building Distribution and International Timber to STARK Group. We wish our former colleagues and STARK Group every success for the future. With this divestment, Saint-Gobain no longer has any distribution businesses in the UK.”