Buckinghamshire-based Grant & Stone has created the largest independent builders’ merchant group in southern England with the purchase of RGB Building Supplies, based in the West Country.
The group will have 74 branches stretching from West London to Cornwall, with over 1,000 employees and revenues approaching £250m.
RGB’s Chief Executive, Kevin Fenlon, will continue to run the business, reporting to Nick House, Grant & Stone’s Group CEO, and will join the Grant & Stone Group board. He said, “This partnership is exciting and will deliver great things. I am looking forward to joining the Board and working together with the Grant & Stone Directors to advance the long-term strategy and future direction of the Group. We are completely aligned in our ambitions for the company and how we achieve them, as well as having a shared approach to product excellence and outstanding customer service.”
The acquisition is made possible thanks to the financial backing of Grant & Stone’s strategic investment partner, Cairngorm Capital Partners, who acquired Grant & Stone in November 2019.
House said, “We are delighted to welcome RGB to the Group. Our shared values, vision and commitment to customers make this an obvious partnership and RGB, a welcome addition to our Group. Grant & Stone is at a really exciting point in its development and we have ambitious plans to fulfil but we are fortunate to be able to benefit from strong investor support, exceptional products, first-rate employees and a well-deserved reputation for superior service. We are excited about the next phase of our development.”
RGB was founded in 1850, and is one of the leading independent builders merchants in the South West serving customers across Devon, Cornwall and Somerset. Headquartered in Barnstable, its 22 branches offer trade and retail customers an array of landscaping, plumbing and heating, heavyside and lightside, decorating and general building materials, as well as dedicated kitchen, bathroom and bedroom showrooms in many locations. RGB also operates a timber sawmill and engineered wood product business under the RTD brand. RGB employs over 300 people and in 2020, achieved revenues of
Grant & Stone’s stated strategy has been to develop its builders’ merchant business through a combination of acquisitions, new site development and organic growth. With no overlap of locations, RGB’s highly complementary branch network and product range provide geographic expansion, product extension
and provides a strong platform for further growth. Culturally, both companies are highly aligned, sharing a common vision, independent ethos and commitment to providing the highest standards of customer service.