Grafton to acquire Rooneys Homevalue to expand building materials network
Grafton Group plc, an influential player in building materials distribution and DIY retail with operations in Ireland, the UK, the Netherlands, and Finland, has announced plans to acquire Rooneys Homevalue Limited. Operating out of Kells, County Meath, Rooneys is a key distributor of building materials and DIY products. The acquisition deal is currently pending approval from the Competition and Consumer Protection Commission in Ireland.
Grafton Group’s Chadwicks to Gain a Strong Market Position
The acquisition sees Chadwicks, a subsidiary of Grafton Group, broadening its market reach in Ireland’s fragmented building materials distribution sector. The move into Kells, an important town in the Dublin commuter belt, adds significant geographic coverage to Chadwicks’ existing network. Rooneys Homevalue primarily serves trade customers in residential repair, maintenance, and new build markets, but also offers retail services to local customers.
Financials Behind the Acquisition
The financial details revealed that Rooneys generated revenue of €11.0 million (£9.4 million) for the financial year ending on February 28, 2023. The merger is expected to significantly boost Chadwicks’ market position and revenue stream, particularly in Dublin’s commuting areas.
CEO’s Commentary on the Strategic Move
Eric Born, Chief Executive Officer of Grafton, shared his thoughts on the acquisition, stating, “Rooneys is an ideal fit with Chadwicks’ branch network in Ireland. We see potential for the organic development of this business to support trade customers with a wider offering of building materials and construction products.”