Bauking AG to work with Irish franchise giant, CRH
According to Bauking AG, it is to enter into an agreement with the Irish firm, CRH, in order to be able to safeguard its further growth targets. By doing so, the company is looking to further improve its equity capital base and so be less dependent on the banks. CRH Deutschland GmbH shall, to begin with, purchase 30 percent of Bauking AG’s share capital.
CRH and Bauking work in exactly the same fields of business. CRH is also a distributor of building materials throughout Europe with over 350 branches and almost 150 DIY stores run as franchise businesses (Gamma). CRH has a similar structure to Bauking AG and is, therefore, interested in long-term and sustainable cooperation work.
CRH, with a turnover of 12.8 billion euros, is one of the
largest European companies within the production and sale of building materials
and similar products. Bauking has said that the company is interested in
becoming active on the German market.