Grant & Stone Group acquires RGB Building Supplies
Grant & Stone Group have announced that it has acquired Rawle Gammon & Baker Holdings Limited, trading as RGB Building Supplies (RGB).
This acquisition creates the largest independent builders’ merchant group in southern England and confirms Grant and Stone’s position as an independent supplier in the region. The enlarged group will have 74 branches stretching from West London to Cornwall, with over 1,000 employees and combined revenues approaching £250m.
Founded in 1850, with a long and prestigious history, RGB is an independent builders merchants in the South West serving customers across Devon, Cornwall and Somerset. Headquartered in Barnstable, its 22 branches offer trade and retail customers an array of landscaping, plumbing and heating, heavyside and lightside, decorating and general building materials, as well as dedicated kitchen, bathroom and bedroom showrooms in many locations.
RGB employs over 300 people and in 2020, achieved revenues of £70 million.
RGB’s Chief Executive, Kevin Fenlon, will continue to run the business, reporting to Nick House, Grant & Stone’s Group CEO, and will join the Grant & Stone Group board.
Nick House, Grant & Stone’s Group Chief Executive said: “We are delighted to welcome RGB to the Group. Our shared values, vision and commitment to customers make this an obvious partnership and RGB, a welcome addition to our Group. Grant & Stone is at a really exciting point in its development and we have ambitious plans to fulfil but we are fortunate to be able to benefit from strong investor support, exceptional products, first-rate employees and a well-deserved reputation for superior service. We are excited about the next phase of our development.”
Grant & Stone was advised on this transaction by Grant Thornton (financial and tax) and Gowling (legal). RGB was advised by PKF Francis Clark (corporate finance) and Ashfords (legal).