MUNICH: Saint-Gobain has entered into binding agreements for the sale of its specialist tile distributor in the UK – CTD Tile Group to Aurelius Investments.
Completion is expected by the end of the first quarter of 2022. CTD Tile Group employs 580 people and has 89 outlets, generating a turnover of approximately €115 million in 2021.
Saint-Gobain has also entered into an agreement for the sale of Ideal Bathrooms, the remaining UK distribution brand specialized in plumbing, heating and sanitaryware products, with a turnover of approximately €60 million in 2021. Ideal Bathrooms will be divested to Wolseley UK and completion is expected in April 2022.
These transactions are part of Saint-Gobain’s continued business profile optimization strategy, in line with the “Grow & Impact” plan objectives.