Saint-Gobain: sells Dahl brand distribution business in Northern Europe for €1.5 billion

Buy Finnish group Kesko

Saint-Gobain is selling its specialist distribution business operating under the Dahl brand in Sweden, Norway and Denmark for approximately €1.5 billion. The French group has announced this, adding that it has signed a binding agreement with the Finnish company Kesko. The business being sold generated turnover of around €2 billion in 2025, employs 2,700 people across 190 stores, and focuses on the distribution of plumbing, sanitary and heating products.

The value of the transaction, which is due to be finalised in early 2027, is €1.518 billion, equivalent to 10.4 times 2025 EBITDA, including lease commitments. Through the acquisition, Kesko will achieve a pro forma 2025 turnover of €14.5 billion with an EBITDA of €1.375 billion.

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