Grafton Group, the merchanting and DIY Group with operations in the UK, Ireland, the Netherlands and Belgium, has signed an agreement to acquire Gunters en Meuser BV, the market leader in the distribution of tools, fixings and ironmongery in the Greater Amsterdam Area.
Completion of the transaction is subject to approval by the Dutch competition authority and is expected to take place in January 2017.
G&M trades from 14 branches and reported revenue of €33.4 million for 2015.
Grafton entered the Netherlands market in November 2015 with the acquisition of Isero. The acquisition of G&M will significantly strengthen and complement the market position of this business.
The combined business will trade from a network of 53 branches and it will become the market leader in the Netherlands tools, fixings and ironmongery market where it will have strong positions in the country's five largest cities.