New owners for Jewson

12 December 2022

Builders merchant Jewson, which offers customers a tool hire service from approximately half of it 500 locations nationwide, is under new ownership following the acquisition of its parent Saint-Gobain Building Distribution Ltd by the Danish STARK Group.

The £740 million sale is STARK's biggest acquisition to date and is expected to be completed in the first quarter of 2023. 

Jewson states that the business continues to operate and trade as normal and that STARK intends to support its plans for growth.

STARK has operations in six countries in Northern Europe. Group CEO Søren P. Olesen said: “We have a strategy that successfully focuses on professional craftsmen and the renovation and maintenance market, which this acquisition fits very well into. In 2019, we bought Saint-Gobain’s German distribution business, and there are many similarities in this acquisition. 

“Despite the current tough macro-economic environment, the fundamental drivers for the renovation and maintenance market in the UK are attractive. We are facing a challenging transition year, but it is a solid company that we can make thrive and grow. The more than 600 branches and distribution centres are in good locations across the entire UK.” 

STARK states that the UK housing stock is amongst the oldest in Northern Europe. A third of all houses were built before 1945, and the average house is 65 years old. At the same time, half of all British households are facing significant renovations as the UK aims to upgrade many houses to Energy Performance Certificate (EPC) C-level by 2030 at the latest.

With its headquarters in Copenhagen, the group has doubled in size over the last couple of years through acquisitions and organic growth. 

Photo: STARK Group