Grafton Group completed the acquisition of Polvo for €131m.

Grafton Group, the merchanting and DIY Group with operations in the UK, Ireland, the Netherlands and Belgium, completed the acquisition of Polvo from Pallieter Group, a holding company that engages in commercial vehicle dealership, hardware products distribution, and energy businesses, for €131m ($148m). Polvo is one of the top three leading businesses in the specialist ironmongery, tools, ventilation systems, fixings and related products market in the Netherlands. It trades from 51 branches and is an excellent geographic fit with the Group's Isero branch network. "This acquisition will complement our existing Isero business, increase our exposure to the attractive, fast growing Dutch market and support our strategy of creating a more balanced portfolio of businesses internationally. Polvo is a long-established high quality business and brand that gives Grafton a unique opportunity to materially increase its scale and consolidate its market leadership position in The Netherlands," Gavin Slark, Grafton Chief Executive Officer.