Official closing of Maxmat acquisition
Today (1 September, 2021), BME Group completed the acquisition of the remaining 50% of the share capital in Modelo – Distribuição de Materiais de Construção S.A. (“Maxmat”) from Sonae MC, which will enable BME Group to further strengthen its position in the Iberian market. The intention to acquire the 50% share was announced on 25 May 2021.
Maxmat is focusing on the renovation segment of the market, active in the do-it-yourself, construction, bath, and garden categories. This acquisition supports BME Group’s plan to create a growth platform in the Iberian market after our recent acquisition of Grupo BMV in Spain.
Financial details of the transaction will not be disclosed.
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