Street Calls of the Week
SAO PAULO - French construction materials giant Saint-Gobain announced Thursday it has signed a definitive agreement to sell its Brazilian retail chain Tumelero to local group GG10, owner of the G-Haus brand.
Tumelero, which specializes in construction materials with a strong presence in southern Brazil, currently operates 16 stores and one logistics center in Rio Grande do Sul. The chain employs approximately 580 people and generated revenues of around €40 million in 2024.
The transaction is expected to be completed by the end of 2025, subject to approval from antitrust authorities, according to the company’s press release statement.
GG10 Group, headquartered in Dois Irmãos, Rio Grande do Sul, operates in the retail and distribution of construction materials through its G-Haus brand.
Saint-Gobain described the divestment as part of its "ongoing strategy to enhance its business portfolio, in line with its global strategic plan."
The company, which is celebrating its 360th anniversary in 2025, reported €46.6 billion in sales in 2024 and employs more than 161,000 people across 80 countries.
This sale marks another step in Saint-Gobain’s portfolio optimization efforts as the company continues to focus on its core businesses in light and sustainable construction solutions.
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