RNS Number : 0564C
Compagnie de Saint-Gobain
17 February 2022
PRESS RELEASE
February 17, 2022
SAINT-GOBAIN DIVESTS SPECIALIST TILE DISTRIBUTOR
AND DISTRIBUTION BRAND SPECIALIZED IN PLUMBING, HEATING AND SANITARYWARE PRODUCTS IN THE UNITED KINGDOM
Saint-Gobain has entered into binding agreements for the sale of its specialist tile distributor in the UK - CTD Tile Group to Aurelius Investments.
Completion is expected by the end of the first quarter of 2022.
CTD Tile Group employs 580 people and has 89 outlets, generating a turnover of approximately €115 million in 2021.
Saint-Gobain has also entered into an agreement for the sale of Ideal Bathrooms, the remaining UK distribution brand specialized in plumbing, heating and sanitaryware products, with a turnover of approximately €60 million in 2021. Ideal Bathrooms will be divested to Wolseley UK and completion is expected in April 2022.
These transactions are part of Saint-Gobain's continued business profile optimization strategy, in line with the "Grow & Impact" plan objectives.
ABOUT SAINT-GOBAIN
Worldwide leader in light and sustainable construction, Saint-Gobain designs, manufactures and distributes materials and services for the construction and industrial markets. Its integrated solutions for the renovation of public and private buildings, light construction and the decarbonization of construction and industry are developed through a continuous innovation process and provide sustainability and performance. The Group's commitment is guided by its purpose, "MAKING THE WORLD A BETTER HOME".
€38.1 billion in sales in 2020
More than 167,000 employees, located in 72 countries
Committed to achieving Carbon Neutrality by 2050
For more information about Saint-Gobain,
visit
www.saint-gobain.com
and follow us on Twitter
@saintgobain
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