Mon, 13 Jan 2020 | DIVISION SALE
Britain’s largest building materials group Travis Perkins has sold its wholesale plumbing and heating business Primaflow F&P to specialist distribution group Newbury Investments for £46 million.
Travis Perkins says that the sale, which is expected to complete at the end of January, will be used to reduce its net debt and will allow its remaining plumbing and heating business to "focus on delivering market-leading service to our direct trade customers".
The sale is, in these regards, in line with the group’s strategy to simplify and focus on its advantaged trade businesses. The group also expects to demerge its home improvement division Wickes during the second quarter of 2020.
Travis Perkins acquired Primaflow F&P, a wholesale distributor of branded plumbing and heating products, from the BSS group in 2010. Primaflow’s attributable profits after adjusting items for the year ending December 2018 were £5 million, with gross assets listed at £102 million as of 30 June 2019.
Nick Perkins, Chief Executive of Travis Perkins, said: "The divestment of our wholesale plumbing and heating business is a further step in reducing the group's overall complexity and enabling greater focus and more disciplined capital allocation to our advantaged trade-focused businesses."
Shares in Travis Perkins were up 1.3 per cent earlier this morning, with the group’s gains over the last year at 39 per cent and its overall value standing at £4 billion.
The company is a business-to-business wholesaler of cask ales, continental lagers, and craft cider. Since its establishment, the business has cultivated strong relationships with high-profile and local breweries, gaining exclusive access to their pro...
A well formed food distribution supply chain business. Work with number of food producers, wholesalers and retailers in and around the Kent area. Currently employing 10 members of staff.
Presenting to the market this exceptional, highly profitable and extremely busy meat wholesaler business as a highly desirable virtual freehold in Central London.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.