Essential reading for retailers and suppliers in the home improvement market

Grafton Group acquires Leyland SDM for £82.4million

Published: 19 February 2018 - Fiona Garcia
The acquisition will see Leyland SDM
The acquisition will see Leyland SDM's small-format style outlets in Central London join Grafton Group's larger-scale Selco branches in Greater London

The deal will see the merchanting and DIY group enhance its estate of large-format Selco branches with the addition of Leyland’s ‘small-box’ style convenience outlets across central London.  

Grafton Group, which has operations in the UK, Ireland, the Netherlands and Belgium, including the Woodies and Selco chains, has acquired the entire issued share capital of London's largest independent specialist decorators' merchant, LSDM Limited.

The total consideration payable by the Group is £82.4million on a debt-free, cash-free basis and will be funded from the Group's cash and debt facilities. 

Leyland SDM serves both trade professionals and DIY customers across London, selling paint, tools, ironmongery and accessories across its 21-strong network of stores. 

Its portfolio includes predominantly high street stores, situated in some of London's most prominent locations including King's Road Chelsea, High Street Kensington, Shaftesbury Avenue, Victoria, Clerkenwell, and Notting Hill.  In the last two years, it has further expanded its footprint with four new stores opened in Battersea, Mile End, Clapham High Street and Putney as well as opening a new Distribution Centre at Wembley. 

Grafton intends that the Leyland SDM "small box" convenience trading format – which it describes as “a proven business model” in Central London will complement its larger Selco branches located in Greater London. 

Leyland SDM posted revenue and underlying EBITA of £47.8 million and £7.3 million respectively for the year ended December 31, 2017.  Gross assets are estimated at circa £10million at completion.

Commenting on the agreement, Grafton CEO Gavin Slark said today: “The acquisition of Leyland SDM is a unique opportunity to acquire a leading brand with exceptional locations in Central London and expands our presence in a resilient segment of the merchanting market located at the heart of one of the world's leading cities.” 

 

 

Comments


(Your email address will not be published)
Already Registered?
Sign In
Not Yet Registered?
Register
Printable View E-mail Bookmark
*

What do you think?


With Black Friday and Cyber Monday behind us, have sales picked up in your retail business ahead of Christmas?


Latest reader comments

re: Drews The Ironmongers to close after 87 years

Dave Percy
A Huge Huge loss to Reading, this store has always delivered on every level , the staff are amazing freindly knowligable and it was so nice ...

re: B&Q UK sales slide, as Kingfisher exits Russian and Iberian markets

BQ bob
How long will lowrys disastrous rule of kingfisher be allowed to continue she has overseen the destruction of Britain's best DIY store, one ...

re: Wyevale agrees sale of five garden centres

Kerry Megan Robinson
What will happen to the Cafe located in the Parley Wyevale Garden Centre when In-Excess take over?...

re: Digital is a powerful selling tool, says Toolbank

Toolking Tools
Toolbank is the very company that resists online development of resellers by not supplying to those that dont have a trade counter, so this ...

re: Kingfisher confirms sale and leaseback of B&Q stores

Abdul
I wonder how long the vision of the VL will continue to pull the group to the very bottom? How many days will it go before someone thinks ...

Most read stories