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Meyer bids £269m for Graham
00:00 11 Aug 1999
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by John Leitch
Meyer has launched an agreed £269 million takeover bid for builders' merchant Graham. If the deal goes ahead, it will give Meyer, via its builders' merchant subsidiary Jewson, a 16 per cent share of the market.
Since Meyer acquired merchant Harcros in December 1997, there has been further consolidation within the UK builders merchants' industry, with Hall and Co gobbled up by Wolseley in August 1998 and Keyline merging into Travis Perkins in April this year.
Graham is the fourth largest builders' merchant, with a market share of 6 per cent. It operates from 169 branches and turnover in 1998 of £530 million produced a profit before tax of £22 million. As a result of the acquisition, Jewson's network of branches will jump ahead from 378 to 547.
Meyer has launched an agreed £269 million takeover bid for builders' merchant Graham. If the deal goes ahead, it will give Meyer, via its builders' merchant subsidiary Jewson, a 16 per cent share of the market.
Since Meyer acquired merchant Harcros in December 1997, there has been further consolidation within the UK builders merchants' industry, with Hall and Co gobbled up by Wolseley in August 1998 and Keyline merging into Travis Perkins in April this year.
Graham is the fourth largest builders' merchant, with a market share of 6 per cent. It operates from 169 branches and turnover in 1998 of £530 million produced a profit before tax of £22 million. As a result of the acquisition, Jewson's network of branches will jump ahead from 378 to 547.
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