Disposal of Bathstore
11 May, 2012
Wolseley has today completed the sale of Bathstore, its UK retail business, to a newly incorporated company backed by Endless LLP for consideration of £15 million payable over the next 5 years. As part of the transaction Endless LLP has invested £11 million of new capital into the business to fund its further development.
In the 9 months to 30 April 2012 Bathstore generated revenue of £66 million. The associated assets were £7 million at 31 January 2012 and the results of the business were classified as ‘held for sale’ in the half year results.
Ian Meakins, Chief Executive of Wolseley, commented:“This disposal is in line with our strategy of focusing on our core operations. I would like to thank the staff of Bathstore for their commitment to the business and wish them every success for the future.”
For further information please contact
John Martin, Chief Financial Officer
Tel: +41 (0) 41723 2230
Mark Fearon, Director of
Corporate Communications and IR
Mobile: +44 (0) 7711 875070
Brunswick (Media Enquiries)
Mike Harrison, Sophie Brand
Tel: +44 (0)20 7404 5959