Saint-Gobain to buy Norwegian distributor Per Strand

French manufacturer Saint-Gobain has agreed to buy Norwegian distributor Per Strand AS for an undisclosed sum.

Per Strand, which has 12 branches in Northern Norway, reported sales of around €100m in 2016.

"This acquisition allows Saint-Gobain to reinforce its position in building distribution in one of its key geographic areas. The generalist brand Optimera strengthens its nationwide market leadership position as a distributor in Norway with 115 branches."

The acquisition is subject to approval of the Norwegian antitrust authority.

At 0930 GMT, Saint-Gobain shares were down 2.7% to €47.47.