Broombys Acquisition Complete

Travis Perkins PLC 1 March 2000 Travis Perkins Completes Broombys Acquisition Travis Perkins plc has completed the acquisition of the entire issued share capital of Broombys Limited, a builders merchant based in Cumbria. Broombys has nine branches and for 1999 reported turnover of £31.6 million and operating profits of £2.077 million. The purchase price of £14.7 million is being met by the payment of £8.2 million in cash and the issue of loan notes to the value of £6.5 million. Assumed borrowings at 29 February 2000 are estimated to be £5.5 million. Frank J. McKay, chief executive of Travis Perkins, commented: 'We are delighted to have completed this acquisition which brings us a strong position in the Cumbrian market and marks a further step in the development of our UK branch network.' Enquiries: Frank J. McKay Chief Executive Travis Perkins plc Tel: 01604 592577 Issued on behalf of Travis Perkins plc by Tavistock Communications Limited (contact Keith Payne, tel:0171 600 2288).
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