July 03, 2021 - 1802 views
Huws Gray has acquired the a new merchanting businesses to become UK’s largest independent builders’ merchant.
The business which has locations across North Wales including in Mochdre, announced its agreement to acquire the GB merchanting businesses from Grafton Group plc, which comprise approximately 200 merchant branches and 3,500 people.
Terry Owen, Founder and Chairman, commented “We are thoroughly excited and feel extremely privileged to be able to acquire such a well-respected name in the industry. This has given us the opportunity to more than double our branch network and substantially increases our geographical footprint. We look forward to working alongside our new colleagues and continuing on our exciting journey.”
The deal is considered to be the biggest of its kind in the industry to date and is subject to customary regulatory approval by the Competition and Markets Authority. Until this process is complete, the businesses will continue to trade independently. This process is expected to close by the end of the first quarter of 2022.
Ian Northen, CEO, added “We look forward to meeting our new colleagues across the business at the earliest opportunity. Through this acquisition, by working together as one team, we will continue on our journey, with a clear focus to deliver the best service possible to all our customers, at the same time as creating opportunities for new and existing colleagues.”
