Wolseley PLC
27 March 2001
NEWS RELEASE
27 March 2001
Wolseley announces acquisition of refrigeration and air conditioning
distribution business in the UK
Wolseley plc ('Wolseley') announced today that its subsidiary, Wolseley
Centers Limited ('Wolseley Centers') has completed the acquisition of the
business of Nationwide Refrigeration Supplies ('NRS') from Ascot Plc for a
maximum consideration of £22 million.
NRS is a wholesale distributor of commercial refrigeration and air
conditioning supplies based in Newbury, Berkshire. It operates from 29
locations around the UK covering the South of England to Scotland. The
aggregate net assets of NRS at 31 December 2000, excluding cash and debt, were
£15.3 million. Aggregate turnover and profit before interest and tax for the
year ended 31 December 2000 were £54.2 million and £3.2 million, respectively.
The acquisition of NRS will give Wolseley Centers a leading position in the
growing air conditioning market as well as the refrigeration market.
This acquisition brings Wolseley's total spend on acquisitions in the
financial year to date to just under £110 million.
ENQUIRIES
Steve Webster - Group Finance Director, Wolseley plc
Telephone 01905 777200
Tom Wyatt - Financial Dynamics
Telephone 020 7831 3113
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