Grafton Group to acquire StairBox for $58m.

Grafton Group, a building materials distributor and DIY retailer, agreed to acquire StairBox, a UK manufacturer and distributor of bespoke wooden staircases, for $58m. "StairBox is a dynamic manufacturing business with a best in class on-line solution at its core. It has an efficient production process, nationwide distribution and strong growth potential. The acquisition of StairBox is in line with our strategy of acquiring specialist high quality businesses with attractive returns. We are delighted with this acquisition opportunity and the skills and experience that the management team under the leadership of Alex Hancock will bring to the Group," Gavin Slark, Grafton Chief Executive Officer.