BME Group (BME) and the shareholders of the Baucentrum Cronrath (Cronrath) have reached an agreement on the sale of Cronrath’s general building materials (GBM) distribution activities to BME. The transaction includes two locations in Waldbröl and Engelskirchen, situated east of Cologne in the Oberbergischer Kreis district. The sale of these assets is still subject to approval by the relevant Competition Authorities and is expected to be completed in the course of 2021.
Cronrath offers a comprehensive product portfolio of building materials. Beyond the GBM business, Cronrath owns and operates a hagebau DIY and gardening store, which is not part of the transaction. Baucentrum Cronrath employs a total of 140 employees (GBM and DIY).
BME is one of Europe’s leading building material distribution companies and active in the distribution of building materials in Germany under the brands Bauking (General Builders Merchant) as well as Paulsen Gruppe, Detering, Bergmann & Franz (all Sanitary, Heating & Plumbing Merchants).
Bauking is market leader in the North of Germany, generating revenues more than €1.2 billion with 72 general building merchant locations and 51 DIY locations (operating under the ‘hagebaumarkt’ brand). With the acquisition of Baucentrum Cronrath, Bauking will expand its footprint in the west of Germany.
Financial details of the transaction will not be disclosed.
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