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Wolseley Group sells Build Centre to Jewson

Wolseley UK has today announced that it is to sell its Build Center operations to Jewson for £145m (€165m).

The sale follows news earlier this month that Wolseley had sold its Electric Center brand to electrical equipment distributor Edmundson Electrical.

The Build Center business consists of 155 branches, of which 86 are freehold, employing 1,600 people and generating turnover of £316m.

The move is part of a broader plan to focus efforts on "businesses that are of sufficient scale and which are equipped to compete successfully for market leadership".

Wolseley UK md Steve Ashmore said: "I truly believe that selling Build Center sets them free to realise their full potential. Equally important, it enables Wolseley UK to provide our remaining businesses with the level of investment and dedication needed to achieve the aim of becoming the best merchant in all our chosen markets."

The sale, subject to regulatory review by the European Commission, is expected to complete in the last quarter of the current year.

Jewson parent company Saint-Gobain, has also agreed to purchase Wolseley's French plumbing merchant Brosette. Saint Gobain chairman and ceo Pierre-André de Chalendar said:

"These two acquisitions, which will add more than €1bn of sales, are perfectly in line with the strategy of Saint-Gobain. They will further develop our Building Distribution Sector and complement the geographical presence in two of the Sector's key businesses - general building distribution in the UK and plumbing, heating and sanitary products in France - while creating significant synergies, particularly in the areas of purchasing and logistics."

Source : DIY

25 July 2011
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