Blackstone-backed Huws Gray to acquire GB merchanting businesses of Grafton Group for $700m.

Blackstone-backed Huws Gray, a builders merchants chain, agreed to acquire GB merchanting businesses of Grafton Group, a builders merchants business based in the United Kingdom and Ireland, for $700m. "We are thoroughly excited and feel extremely privileged to be able to acquire such a well-respected name in the industry. This has given us the opportunity to more than double our branch network and substantially increases our geographical footprint. We look forward to working alongside our new colleagues and continuing on our exciting journey," Terry Owen, Huws Gray Founder and Chairman.