Wolseley UK is expected to complete the acquisition of Neville Lumb, DHS and Bassetts from Saint-Gobain in early 2022.
Saint-Gobain has also entered into exclusive negotiations with Wolseley UK for the sale of Ideal Bathrooms, its remaining UK distribution brand specialised in plumbing, heating and sanitaryware products.
Together, these four brands employ 485 people and have 25 outlets, generating a turnover of approximately £110m in 2020.
In August Saint Gobain sold the Graham chain of plumbers’ merchants. On completion of these transactions, it will no longer have any distribution brands in plumbing, heating and sanitaryware products in the UK.
Mike Chaldecott, chief executive of Saint-Gobain UK & Ireland, 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."
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