Travis Perkins PLC
26 October 2007
26 October 2007
TRAVIS PERKINS PLC
Wickes franchises its business in Ireland
Travis Perkins plc ('Travis Perkins'), a leading UK builders merchant and home
improvement retailer, announces that its subsidiary company, Wickes Ltd,
('Wickes') has entered a franchise agreement with Moritz Home Improvements Ltd
('Moritz') under which Moritz will develop home improvement stores in Ireland
under the Wickes brand. While Moritz will be responsible for operating the
business, Wickes will sell products to the business from its own range and
receive commission on retail sales. It will also provide training and marketing
support. It is presently anticipated that the first Wickes store in Ireland will
open in 2008.
Moritz is a subsidiary of Moritz Holdings Ltd, a leading commercial and
residential property development company in Ireland, which also operates a chain
of builders merchant stores.
John Carter, Chief Operating Officer of Travis Perkins, commented:
'This is an excellent low risk opportunity to gain experience of extending the
Wickes brand outside the UK, under the leadership of its Managing Director,
Jeremy Bird. We are delighted to be joining forces with Moritz in Ireland where
we believe there are good prospects for a high quality trade-focussed home
improvement business like Wickes'.
There will be a conference call for analysts at 10.00am (GMT) today. To dial
into the conference, please call: 0845 111 4059 (UK Local Call) or, +44 (0)1452
555 666 (International Dial In), quoting Conference ID: 22453174.
Enquiries:
Geoff Cooper, Chief Executive
Travis Perkins PLC Tel: +44 (0)1604 683 221
John Carter, Chief Operating Officer
Travis Perkins PLC Tel: +44 (0)1604 683 221
David Bick
Square 1 Consulting Limited Tel: +44 (0)20 7929 5599
This information is provided by RNS
The company news service from the London Stock Exchange
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