has today completed the sale of its Build Center business to Jewson Ltd
, which is part of Saint-Gobain
announced that it had entered into an agreement to sell Build Center to Jewson Ltd
on 25 July, 2011, subject to regulatory review by the European Commission. That review has now been completed.
made the decision that the market in which Build Center operates is no longer a core strategic business activity for the UK business.
Build Center employs around 1,600 people and operates through a network of around 150 branches. For the year ended 31 July, 2011, its turnover was £325 million.
’s Managing Director Steve Ashmore said: “Knowing that Build Center is highly valued by Jewson, confirms that our decision was right for Build Center as well as Wolseley UK
“The decision to sell Build Center following a strategic review was made to create the right foundations to ensure Wolseley UK
’s continued future success. It is also fully aligned to Wolseley UK
’s strategic objectives to focus on being the best merchants in our chosen core markets.”