StockMarketWire.com - Grafton said Monday it acquired decorating and DIY Group Leyland SDM for £82.4m.

Leyland SDM, based in London, sells paint, tools, ironmongery and accessories.

Its revenue and underlying EBITA was £47.8m and £7.3m, respectively, for the year ended 31 December 2017. Gross assets were estimated at circa £10.0m at completion.

Gavin Slark, Chief Executive Officer of Grafton said: 'The acquisition of Leyland SDM is a unique opportunity to acquire a leading brand with exceptional locations in Central London and expands our presence in a resilient segment of the merchanting market located at the heart of one of the world's leading cities.'

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