Travis Perkins PLC
19 January 2000
Travis Perkins Acquiring Three More Businesses
Travis Perkins, one of the UK's leading suppliers of timber
and building materials and the sector's leading distributor of
heavyside products, is consolidating its market position with
three further acquisitions.
First it is in advanced negotiations to acquire the Cumbria-
based Broombys Limited, an 80 year old family business with
nine branches and a combined turnover of over £30m. The
branches are in Barrow, Carlisle, Carnforth, Kendal,
Morecambe, Penrith, Sandside, Ulverston and Workington.
Completion is expected to take place at the end of next month.
Meanwhile Travis Perkins has completed the purchase of two
smaller businesses, the Devonshire located Baseline Builders
Merchants, with branches in Exeter, Plymouth, Teignmouth and
Tiverton, and Allied Builders Merchants in Scotland whose
three branches are at Kelso, Peebles and Selkirk.
The total expected consideration for the combined assets of
the three businesses is less than £25m which will be paid out
of the company's existing resources in a combination of loan
notes and cash.
Frank J. McKay, chief executive, commented: 'These
acquisitions continue our strategy of broadening our
distribution network across the United Kingdom and at the same
time offering our customers the fullest range of building
materials.
'We are particularly pleased to be acquiring Broombys, a well
managed family business and the largest merchant in Cumbria
where hitherto Travis Perkins has had little or no
representation.'
The acquisition of Baseline Builders strengthens the coverage
of Travis Perkins in the South West while Allied Builders
opens up additional market opportunities in the Scottish
borders. Branch overlap is minimal with Baseline's Tiverton
outlet likely to be merged with that of the former Sharpe &
Fisher branch.
As a result of these latest deals, and following the recent
acquisitions of Keyline and Sharpe & Fisher, Travis Perkins
will have some 460 branches.
Press Enquiries:
Tony Travis
Chairman
Tel: 01604 752424
Frank J. McKay
Chief Executive
Tel: 01604 592577
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.