Wolseley Disposes Of Bathstore Business

In the nine months ending 30 April 2012, Bathstore generated revenue of £66 million and the associated assets were £7 million . . .

On Friday, May 11th, Wolseley 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 nine months ending 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.”

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