SIG buys France's Sodimat for €4.4m

18th Jul 2014 07:34

Building product distributor SIG has bought French rival Sodimat for €4.4m in cash.SIG is buying Lyon-based Sodimat, which distributes flat roofing products in France, from the Sitbon family, which founded the business.Sodimat made a pre-tax profit of €550,000 in the financial year to December 31st, 2013. It had gross assets of €1.4m at the end of the year."This infill acquisition is in line with the group's strategy of expanding its French roofing business, Lariviere, in the south of France, and strengthening its offering in flat roofing, which SIG believes to be an attractive part of the market," SIG said in a statement.PW