Grafton Group Plc (LON: GFTU) acquires AVC (StairBox) Ltd - Kalkine Media

December 01, 2020 04:27 PM GMT | By Team Kalkine Media
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Grafton Group Plc (LON: GFTU) has acquired an industry leading UK manufacturer and distributor of bespoke wooden staircases, AVC (StairBox) Ltd.

  • The acquisition is for a consideration of £44 million on a cash and debt-free basis. It also includes £4 million deferred payment until November 2022.
  • StairBox has a pioneering focus on the use of technology and has developed an innovative software application.
  • CEO of Grafton Group plc, an international distributor of building materials has said that the acquisition is in line with company’s strategy of acquiring specialist high quality businesses with attractive returns.
  • The stocks of the company, on 1 December 2020, traded higher by 0.82% from its previous closing, hovering at around GBX 858.50 at 09:28 AM GMT+1.

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