Jewson sold by its French owner to private equity for £740m
>
Construction industry merchant Jodenon sold by French owner to private equity-owned Danish rival for £740m
<!–
<!–
<!–<!–
<!–
<!–
<!–
Jewishon has been sold by its French owner to private equity for £740 million.
Construction company Saint-Gobain sold the construction trade and its 600 branches to Danish building materials company Stark, which was bought by private equity giant CVC last year.
Jodenon – founded in 1836 by George Jodenon – is the latest company to be picked up by private equity, an industry that has been on a rampage for the past 18 months.
Construction retailer Jedenson and its 600 branches have been sold to private equity owned Danish building materials company Stark
The sales come at a time when UK shoppers are facing rising inflation and interest rates, meaning more people are struggling to get a mortgage and fix up their homes.
But Soren Olesen, CEO of Stark, which serves more than 260,000 customers in Scandinavia, Germany and Austria, said he was reassured by the stable renovation market in the UK despite the market pressure.
Saint-Gobain acquired Jodenon in 2000 and the company is expected to generate revenues of £2.3 billion this year.