StockMarketWire.com - Compagnie de Saint-Gobain is boosting its presence in Brazil with the acquisition of Tumelero Materiais de Construcao's distribution network in Rio Grande do Sulm, the country's southernmost state.

Tumelero - which was created in 1967 in Porto Alegre - has a large portfolio of building materials and services for construction industry professionals and end-users.

It has 29 sales outlets in Rio Grande do Sul state and almost 1,000 employees.

In 2016, it generated sales of over €80m.

Saint-Gobain said the acquisition was in line with its long-term development strategy for its distribution activity in Brazil.

Saint-Gobain said it would give the group the largest network of distribution sales outlets for home improvement products and services in Brazil with a total of 70 outlets operating under the Telhanorte, Telhanorte Conceito, Pro Telhanorte and Tumelero brands in 46 cities in Sao Paulo, Minas Gerais, Parana and Rio Grande do Sul states.

The transaction has been approved by the Brazilian competition regulator CADE.






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