en.Wedoany.com Reported - Saint-Gobain S.A. has signed a binding agreement to sell its specialized distribution business, primarily under the Dahl brand in Sweden, Norway, and Denmark, to Nordic trading company Kesko. The business, with sales of approximately €2 billion in 2025, employs 2,700 people and operates 190 stores, making it a leading player in the local plumbing, sanitaryware, and heating distribution sector. The sale is based on an enterprise value of €1.518 billion, equivalent to 10.4 times 2025 EBITDA (including lease liabilities under IFRS 16) or 14.6 times (excluding lease liabilities). The company recently completed the sale of its French and German HKO textile business.

The transaction is expected to close in early 2027, subject to approval from competition authorities and the completion of information and consultation procedures with relevant employee representative bodies.

Benoit Bazin, Chairman and CEO of Saint-Gobain, stated that the transaction aligns with the company's strategy of optimizing its business portfolio through investments, acquisitions, and divestitures as part of the "Lead & Grow" plan. He noted that Kesko will form a strong business combination with Dahl, benefiting customers focused on plumbing, sanitaryware, and heating, while deepening Kesko's strategic partnership with Saint-Gobain in the Nordic region. He also thanked all Dahl teams for their years of work and dedication and wished them well in the future.

Citi served as financial advisor to Saint-Gobain, and Linklaters acted as legal advisor.

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