Travis Perkins announces Wickes demerger

Fri, 02 Aug 2019 | MERGER

Travis Perkins has revealed that it plans to demerge DIY chain Wickes as a standalone business, with a sale expected during the first half of 2020.

In a report sent to shareholders, building materials chain Travis Perkins stated that interim results for the six months to 30th June registered like-for-like sales growth of 9.7 per cent and total revenue of £695 million following the company's difficult 2018.

Additionally, the report noted that sale within the Wickes core DIY branch had greatly benefited from a clear trading plan, which had led to the addition of new ranges and to the introduction of number of improvements that allowed for increased product availability in store.

The news of the demerger follows an announcement from the Travis Perkins board last November, which revealed that Wickes was being reviewed due to the loss of almost a third of operating profits in the previous two years.

"I am delighted with the progress the group has made in executing the strategy set out at the capital markets event in December 2018 Wickes has delivered a strong turnaround in volume and profit performance, with gains in both core DIY and through the Kitchen & Bathroom showroom." Travis Perkins chief executive John Carter said.

"The demerger of Wickes is a key component of the overall Travis Perkins strategy to focus on trade customers and to simplify the group which the board believes will underpin the creation of enhanced value for shareholders."

The success of Wickes greatly contrasts with Travis Perkins' Plumbing & Heating business, which remains for sale and is expected to be sold within the next few months.


Share this article



Latest Businesses for Sale

Construction Company
Leeds, West Yorkshire, Yorkshire and the Humber, UK

Highly profitable Family Run Business, that has been in the same hands for over 20 years. Operating out of Leasehold premises the business is easily relocatable, many of the subcontractor workforce has been working with the company for many years. Of...

Asking Price: £1,900,000
Turnover: £1,709,427

LEASEHOLD


Buildings & Facilities Management Business
UK Wide

Highly accredited buildings and facilities management business: 95% repeat business from longstanding, secure contracts with blue chip, London-based clients. Significant room for growth: from an existing client base that is displaying increasing dema...

Asking Price: Offers Invited
Turnover: £576,000

Concrete Supply Business
Wymondham, Norfolk, UK Wide

Mobile Concrete Supplies, a family run business that was established in 1980. Our client is now looking to sell due to health reasons. Working with trade and private customers throughout Norfolk, delivering and pouring ready mixed concrete. Their man...

Asking Price: £750,000
Turnover: £2,458,654

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
19
 
Nov
 

UK government set to approve Cobham takeover | BUSINESS SALE

The British government is poised to approve the $5 billion t...

 
18
 
Nov
 

Kitwave acquires Alpine Fine Foods | BUSINESS SALE

Independent wholesaler Kitwave has acquired Alpine Fine Food...

 
15
 
Nov
 

Carpetright agrees to shareholder takeover deal | BUSINESS SALE

Carpetright has agreed a deal to be taken over by its larges...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources