No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - France's Saint-Gobain said on Monday that it has agreed to sell its specialist distribution business in Sweden, Norway and Denmark - Dahl - to Finnish retailer Kesko for 1.5bn.
The combined net sales of the businesses being sold were nearly 2.1bn in 2025.
Kesko said in a statement that the deal, the largest in its history, would expand the company's reach in the HPAC and infrastructure construction businesses in Sweden, Norway and Denmark.
The transaction should be finalised by the beginning of next year, Saint-Gobain said.
The company's chairman and chief executive Benoit Bazin said: "This important transaction is fully aligned with our strategy to continuously optimize Saint-Gobain's business profile - through our investments, acquisitions and divestments - as part of our 'Lead & Grow' plan.
"Kesko will create a strong business combination with Dahl for the benefit of customers specialising in plumbing, sanitary and heating in the region. This transaction also deepens the strategic partnership between Kesko and Saint-Gobain in the Nordics."
Kesko president and CEO Jorma Rauhala said: "We have been seeking significant acquisition opportunities for years, especially in technical trade in the Nordic region, where attractive targets are very rarely available. The operations we now seek to acquire would be an excellent fit for Kesko's growth strategy and they would complement our existing building and technical trade business.
"Dahl is a leading technical trade operator in the Nordic countries, with a long history and a strong iconic brand. This is the right timing for an acquisition: technical trade offers significant growth potential in the stable and affluent Nordic markets, as construction becomes increasingly technical and infrastructure and renovation building continue to grow."
At 1040 BST, Saint-Gobain shares were up 5.1% at 79.64 while Kesko was 9.9% lower at 19.28.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.