Wolseley UK has announced today that it has agreed to sell its Build Center operation to Jewson.
Its statement read: “This transaction is strategically consistent with Wolseley UK’s ambition to focus its efforts and investment on businesses that are of sufficient scale and which are equipped to compete successfully for market leadership.”
The sale is subject to review by the European Commission, which is expected to be completed in the last quarter of 2011.
Build Center employs around 1,600 people, operates through a network of 155 branches and recorded a turnover of £316 million in 2010.
Steve Ashmore, Wolseley UK managing director, said: “I truly believe that selling Build Center sets them free to realise their full potential. Equally important, it enables Wolseley UK to provide our remaining businesses with the level of investment and dedication needed to achieve the aim of becoming the best merchant in all our chosen markets.”