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CRH raises €510mln from sale of its DIY business in the Netherlands and Belgium

Published: 03:17 18 Jul 2018 EDT

Disposal sign
CRH also said then that it has initiated a strategic review of its Europe Distribution business

CRH PLC (LON:CRH) has raised €510mln (around £450mln) from the sale of its DIY business in the Netherlands and Belgium, together with certain related property assets, to Intergamma, the Dutch DIY franchise organisation, and a US real estate investor.

The move comes around a month after the Ireland-based global building materials group announced plans to combine certain of its European and American businesses in a move designed to improve profit margins.

READ: CRH looks to boost margins by combining businesses to create new building products division

The FTSE 100-listed firm said on May 31 that it would combine its Europe Lightside, Europe Distribution and Americas Products divisions into a new Building Products division from 1 January 2019.

CRH – the world’s third-largest building group - said it was aiming to improve the group’s core underlying earnings (EBITDA) margin by 300 basis points by 2021.

The firm also said then that it has initiated a strategic review of its Europe Distribution business, focused on “improving the margins and returns of the business, as well as exploring other strategic options.”

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