St Gobain Building Distribution Ltd (SGBD) has agreed to buy Gibbs & Dandy plc for £43m.
Gibbs & Dandy, which has a substantial timber and joinery business, has 11 branches and recorded sales of £62.5m in 2007.
“The transaction represents a further step in our strategy to broaden our product and geographic reach in the UK,” said Peter Hindle, chief executive of SGBD.
Gibbs & Dandy originally announced in February that it was involved in “early discusssions “about an offer for the share capital of the company.
SGBD intends to apply for a delisting of the company on the London Stock Exchange.
