Endless doubles up

WOLSELEY has sold Bathstore to a newly incorporated company backed by Endless for £15m.

The sum will be paid for the business, which has more than 160 stores across the UK, over the next five years.

Endless, which has an office in Manchester, has also invested £11m of new capital into Watford company Bathstore to fund its further development.

Ian Meakins, chief executive of Wolseley, said: “This disposal is in line with our strategy of focusing on our core operations.

“I would like to thank the staff of Bathstore for their commitment to the business and wish them every success for the future.”

In the nine months to April 30, Bathstore generated revenue of £66m.

The deal is the second in just a few days for Endless, which has also acquired visual effects company Cinesite.