Saint-Gobain to Sell Dahl Business to Kesko for $1.76 Billion
By Aimee Look
Saint-Gobain is selling its Dahl specialist distribution business in Denmark, Sweden and Norway to Kesko. "Saint-Gobain to Sell Dahl Business to Kesko for $1.76 Billion," at 0734 GMT, incorrectly suggested it was selling the whole business. The correct version follows:
By Aimee Look
Shares in Saint-Gobain rose after the company struck a deal to sell its specialist distribution business Dahl in three Nordic countries to the Finnish retailer Kesko.
The French group said Monday that it signed a binding agreement to sell its Dahl business in Sweden, Norway and Denmark to Kesko for 1.52 billion euros ($1.76 billion) including debt. The deal is expected to be finalized by the start of 2027.
Saint-Gobain's shares rose 5.8% in early European trading. Shares in Kesko slumped by 9.1%.
Kesko said it will benefit by adding customers specializing in plumbing, sanitary and heating in the region, adding that the acquisition is its largest transaction to date. It would make Kesko's building and technical trade arm its largest, it said.
"We have been seeking significant acquisition opportunities for years, especially in technical trade in the Nordic region, where attractive targets are very rarely available," Jorma Rauhala, the president and CEO of Kesko, said.
Building-materials supplier Saint-Gobain said the divestment is part of its broader strategy to improve its portfolio.
Write to Aimee Look at aimee.look@wsj.com
Corrections & Amplifications
This article was corrected at 04:31 a.m. ET to clarify that Saint-Gobain's deal to sell its Dahl business includes debt. An earlier article incorrectly said it was a debt-free deal.
Corrections & Amplifications
This article was corrected at 06:32 a.m. ET to clarify Saint-Gobain is selling its Dahl specialist distribution business in Denmark, Sweden and Norway to Kesko. An earlier article incorrectly suggested it was selling the whole business.
(END) Dow Jones Newswires
June 15, 2026 03:49 ET (07:49 GMT)
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