Bathstore sold by Wolseley
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.
Leeds-based Endless has also invested £11m of new capital into 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.
Leeds law firm Walker Morris acted for Endless.
The deal is the second inside 24 hours for Endless, which has also acquired visual effects comapny Cinesite.
