Wolseley UK has formally completed the acquisition of Bassetts, DHS, and Neville Lumb marking the exit of Saint-Gobain from bathroom, plumbing and heating distribution in the UK.
It follows the announcement last December that Wolseley had entered into binding agreements to purchase the businesses.
The agreement will see nearly 300 people from Bassetts, DHS, and Neville Lumb joining the Wolseley UK business, with all outlet operating as normal and there will be no change for customers.
Simon Oakland, CEO at Wolseley, said: “The completion of the acquisition of Bassetts, DHS, and Neville Lumb marks a very exciting chapter for the business, our customers, and our colleagues, both existing and new.”
Wolseley also recently acquired Ideal Bathrooms from Saint-Gobain, with the four brands in total boasting 25 outlets, generating a turnover of approximately €130 million in 2020 and employing 485 people.
Given the divestment of Graham, with 130 outlets and a turnover of approximately €260 million in 2020, and sale of CTD tiles to investment firm Aurelius, Saint-Gobain will no longer have any brands in plumbing, heating and sanitaryware distribution in the UK.
These transactions are part of Saint-Gobain’s continued portfolio optimisation strategy to enhance the Group’s growth and profitability profile in line with the “Grow & Impact” plan objectives.
CEO of Saint-Gobain UK & Ireland Mike Chaldecott said: “This sale is part of Saint-Gobain’s strategy to create a focussed portfolio of businesses directed towards high growth markets, with the expertise to Make the World a Better Home and help us achieve our vision to be a leader in light and sustainable construction.”