Wolseley plc on Monday announced the acquisition of a substantial shareholding in BathEmpire.com, a B2C online bathroom retailer in the United Kingdom, with an option to acquire the remaining equity stake at a future date. In the fiscal year ended Dec. 31, 2014, the business generated revenue of $29.2 million.
BathEmpire.com was founded in 2009 and has 150 employees. This acquisition gives Wolseley a strong position in the U.K. B2C online bathroom market and a scalable platform to support future growth.
Commenting on the acquisition, Ian Meakins, CEO of Wolseley plc, said, "The UK B2C online bathroom market is growing rapidly and BathEmpire.com gives us an established brand with a scalable platform and the opportunity to build a significant presence over time."
