US acquisitions boost Molson turnover

Molson acquired three US Powerscreen dealerships in quick succession

In the year to 30th September 2023, Molson Group turnover grew by 18% to £338.0m (2022: £285.8m) thanks to recent acquisitions in the USA.

The turnover of the UK business fell by £11.5m to £251.7m.

Molson is part owned by BFG, a private equity firm controlled by UK high street banks. Expanding into the USA, Molson acquired 85% of Powerscreen of California in April 2022 for £14m and in October 2022 added Powerscreen of Washington (Washington state, that is, not DC) for £31m. On 31st August 2023 it then also bought Arizona-based Powerscreen Western for £2m. All three business are distributors of Terex Powerscreen crushing and screening machinery.

In the 2023 financial year operating profit increased marginally to £15.9m (2022: £15.7m but pre-tax profit slipped to £8.1m (2022: £13.0m) due to a substantial increase in interest repayments.

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