Clayton, Dubilier & Rice (“CD&R”) completed today the previously announced acquisition of BUT, the largest furniture retailer network in France, in a 50:50 partnership with WM Holding, a company related to XXXLutz Group, one of Europe’s three largest furniture retailers. Sir Terry Leahy, Senior Advisor to CD&R funds and former CEO of Tesco, has assumed the role of Chairman of the Board.

BUT is one of the leading home equipment retailers in France, operating through a network of 303 stores. The company offers a comprehensive selection of furniture, appliances and decorative products, all complemented by attractive financing and extended warranty services. In FY2016, BUT generated revenue of €1.5 billion.