Acquisition of Stores from Focus

RNS Number : 7323G

Travis Perkins PLC

17 May 2011

 



Travis Perkins PLC

17 May 2011

TRAVIS PERKINS PLC

              Travis Perkins agrees to acquire up to 13 stores from the administrators of Focus

Travis Perkins PLC ('Travis Perkins'), the UK's leading builders' merchant and DIY retailer, announces that its subsidiary company, Wickes Building Supplies Limited ('Wickes') has agreed to acquire up to 13 leasehold properties and associated colleagues from the administrators of Focus for £8.4 million.

The acquired stores will extend the reach of the group's successful Wickes retail home improvement format. All 13 will be converted to Wickes, increasing its network to 216 stores. These conversions will be completed before the end of 2011 and are expected to be earnings enhancing in 2012.

Geoff Cooper, Chief Executive of Travis Perkins said:

'The acquisition of these 13 stores, cherry picked from over 100 potential locations, further expands our Wickes  business and will help us to continue our gains in like-for-like and total market share. We welcome the colleagues in these stores into our Group and look forward to these stores trading successfully in the Wickes Format.'

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Enquiries:

Geoff Cooper, Chief Executive

Paul Hampden Smith, Finance Director

Travis Perkins PLC                                    Tel: [phone]

David Bick/Mike Feltham/Mark Longson

Square1 Consulting Limited                 Tel: [phone]

 

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