Saint-Gobain has signed a binding agreement for the sale of its treated timber products (utility poles, fencing and railway sleepers) manufacturing brands.
Iivari Mononen Group is to take on Lincolnshire-based Calders & Grandidge, as well as PDM in Ireland.
The divested assets generated revenues of €50 million in 2023 and employ 80 people.
The divestment of PDM completed on 1 March, and the sale of Calders & Grandidge is expected to be completed by the end of 2024, subject to competition authority clearance.
Established for over 100 years, Calders & Grandidge is headquartered in Boston, Lincolnshire.
The company noted that the divestments “are part of Saint-Gobain’s continued business profile optimization strategy, in line with its ‘Grow & Impact’ plan.”
