Saint-Gobain has entered into binding agreements for the sale of its specialist tile distributor in the UK – CTD Tile Group to AURELIUS Investments and concluded its exclusive negotiations for the sale of Ideal Bathrooms to Wolseley UK.
These transactions are part of Saint-Gobain’s continued business profile optimization strategy, designed to create a focused portfolio of businesses to support its purpose to Make the World a Better Home, and be the leader in light and sustainable construction.
The divestment of CTD Tile Group, which employs 580 people and generated a turnover of approximately £100 million in 2021, is expected to complete by the end of the first quarter of 2022. Ideal Bathrooms, which generated a turnover of approximately £60 million in 2021 will be divested to Wolseley UK and is expected to complete at the end of April 2022.
On completion of these transactions, Saint-Gobain will no longer have any distribution brands specialized in plumbing, heating, sanitary ware or tile products in the UK following the sale of Neville Lumb, DHS and Bassetts.