STARK Group acquires one of the leading builders' merchants in Funen, Denmark
STARK Group has through its Danish subsidiary, STARK Denmark A/S, signed an agreement to acquire the builders’ merchant XL Byg Jens Schultz A/S, which is a leading player in the Southern part of Funen. STARK Denmark is via a share deal taking over all activities, properties and 112 employees in XL-Byg Jens Schultz A/S.
With the acquisition of XL-Byg Jens Schultz A/S, STARK Group continues its growth strategy, following another acquisition earlier this year of the activities in the chain SJAKK in Mid- and Eastern part of Jutland.
The acquisition of XL-Byg Jens Schultz A/S will increase STARK Denmark’s presence in the Southern part of Funen, Langeland and Ærø in line with the overall strategy of having a focused local presence. The branches in XL-Byg Jens Schultz A/S mainly serve professional customers, being small and medium-sized professional builders, which is in line with the overall STARK Group strategy to grow the SME customer segment.
“I am very pleased to announce this new acquisition in Denmark and to welcome another 112 Danish colleagues to STARK Group. After bringing XL-Byg Jens Schultz A/S into the STARK family we will have a good foothold in an important region in Denmark allowing us to offer even better service to our customers” says Søren P. Olesen, CEO of STARK Group.
The agreement with XL-Byg Jens Schultz A/S is the latest in a string of acquisitions STARK Group has made in the Nordics and Germany the recent years, growing the company to be a leading distributor in the building material industry in Europe.
The completion of the XL-Byg Jens Schultz A/S acquisition is subject to necessary authority clearances, expected in spring 2020.
About STARK Group A/S
STARK Group A/S operates 412 branches across Germany and the Nordics through its subsidiaries STARK Deutschland GmbH in Germany, STARK Danmark A/S in Denmark and Greenland, Beijer Byggmaterial AB in Sweden, STARK Suomi Oy in Finland and Neumann Bygg AS in Norway. STARK Group A/S has approx. 10,000 full-time employees and annual net sales of approx. EUR 4.3 billion.
STARK Group serves a wide range of customers, primarily professional builders, in the renovation and new construction sectors through a flexible delivery model.