IN BRIEF: Grafton completes EU32 million purchase of HSS Ireland
Grafton Group PLC - Dublin-based building materials distributor and do-it-yourself retailer - Completes the acquisition of HSS Hire Ireland Ltd from HSS Hire Group PLC. The business is a tool and equipment hire specialist with four branches and four customer distribution centres in Ireland. Grafton agreed to buy it from HSS for €31.6 million, with the deal announced at the start of April. At the time, HSS said the sale of the Irish business to Grafton followed HSS separating its ProService and Operations offerings, now called the Hire Service Co. The disposal will allow HSS to ‘continue to focus on driving the long-term performance of these two standalone businesses’. Grafton said it plans to operate the HSS operation as part of Chadwicks, its distribution business in Ireland.
Grafton also on Tuesday says it has completed the sale of its MFP piping business in Ireland to a subsidiary of Wienerberger AG, which operates through Pipelife Ireland Solutions Ltd in Ireland.
Grafton current stock price: 1,000.40 pence, down 0.2% in London early Tuesday
12-month change: down 1.4%
HSS current stock price: 7.35p, up 4.4% on Tuesday
12-month change: down 22%
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