Grafton Group, the building materials supplier, has agreed the acquisition of Binje Ackermans SA, a six branch builders merchanting business based in Brussels and trading under the MPRO brand, for €20.5m.
The transaction is expected to close in the first quarter of 2014 subject to approval from the Belgium Competition Authority.
Binje Ackermans SA is a wholly-owned subsidiary of Saint-Gobain.
Grafton Group ceo Gavin Slark said: 'This transaction presents a unique strategic opportunity for Grafton to acquire a business with a leading position in the Brussels market... The proposed acquisition creates opportunities for scale related benefits and operational synergies in the areas of procurement, central services and the sharing of best practice, while also providing a solid base for future growth in the Belgian merchanting market.'
