Travis Perkins PLC
1 March 2000
Travis Perkins Completes Broombys Acquisition
Travis Perkins plc has completed the acquisition of the entire
issued share capital of Broombys Limited, a builders merchant
based in Cumbria.
Broombys has nine branches and for 1999 reported turnover of
£31.6 million and operating profits of £2.077 million.
The purchase price of £14.7 million is being met by the
payment of £8.2 million in cash and the issue of loan notes to
the value of £6.5 million. Assumed borrowings at 29 February
2000 are estimated to be £5.5 million.
Frank J. McKay, chief executive of Travis Perkins, commented:
'We are delighted to have completed this acquisition which
brings us a strong position in the Cumbrian market and marks a
further step in the development of our UK branch network.'
Enquiries:
Frank J. McKay
Chief Executive
Travis Perkins plc
Tel: 01604 592577
Issued on behalf of Travis Perkins plc by Tavistock
Communications Limited (contact Keith Payne, tel:0171 600 2288).
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