Disposal

RNS Number : 1912D

Wolseley PLC

11 May 2012

 



NEWS RELEASE

11 May 2012

Wolseley plc - Disposal of Bathstore

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

Wolseley plc

John Martin, Chief Financial Officer	Tel:       [phone]
Mark Fearon, Director of Corporate Communications and IR	Mobile: +44  (0) 7711 875070

Brunswick (Media Enquiries)

Michael Harrison, Sophie Brand

Tel:       [phone]

Notes to statement

1.         About Wolseley

Wolseley plc is the world's largest specialist trade distributor of plumbing and heating products to professional contractors and a leading supplier of building materials in North America, the UK and Continental Europe.  Group revenue for the year ended 31 July 2011 was £13.6 billion and trading profit was £622 million.  Wolseley has around 40,000 employees, is listed on the London Stock Exchange (LSE: WOS) and is in the FTSE 100 index of listed companies.

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