Wolseley UK has today entered into an agreement to sell Build Center to Jewson.
Build Center employs around 1,600 people and operates through a network of 155 branches. In 2010, its turnover was £316 million.
This transaction is strategically consistent with Wolseley UK’s ambition to focus its efforts and investment on businesses that are of sufficient scale and which are equipped to compete successfully for market leadership.
Wolseley UK’s Managing Director 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 of Build Center is subject to regulatory review by the European Commission. Wolseley UK anticipates that the sale of Build Center will complete shortly after the Commission has concluded its review, which is expected to be in the last quarter of 2011.