Wholesale giants G & L Beijer, owner of wholesaler Dean & Wood, is set to acquire United Refrigeration’s wholesale operations in the UK and France
The deal comes as United Refrigeration, one of the largest distributors of refrigeration products and comfort cooling systems in the US, has decided to concentrate its operations on the North American market.
The British company – United Refrigeration (UK) Ltd reports sales equivalent to approximately £8.7 million from nine branches and and employs 44 staff. The total consideration for both companies amounts to around £23 million on a debt-free basis, with the acquisition financed through its own funds and increased borrowing.
With the acquisitions, G & L Beijer says it is strengthening its position still further in the French and British markets, with synergy gains primarily within purchasing and fixed costs.
The acquisition is subject to approval by the French competition authorities.