Grafton Group to buy Dutch ironmonger

The deal, which is subject to approval from the Dutch competition authority, is expected to complete in January.

Grafton chief executive Gavin Slark said the acquisition was a strategic opportunity for the company’s existing business in the Netherlands to gain a strong presence in the greater Amsterdam area.

Grafton entered the Netherlands market in November 2015 when it bought Isero, a tools and fixings distributor.

Gunters en Meuser will “significantly strengthen and complement the market position” of Isero, as the combined business will trade from a network of 53 branches in the Netherlands in the tools, fixings and ironmongery market.

Slark said: “Gunters en Meuser is a high quality business and brand that is synonymous with the ironmongery market in Amsterdam where it has traded for 190 years.

“This will be a further important step in the group's development strategy in the Netherlands and increases our exposure to the growing Dutch economy. The enlarged business should also provide a good platform to capitalise on other appropriate development opportunities."