LEAMINGTON SPA: Wolseley UK has bought 22 Burdens branches across the UK, involving some 600 employees, for around £30m, it was announced today.
Burdens has a well-established reputation in the marketplace and is a highly valued brand. Its product range will also complement Drain Center’s product proposition offering, providing customers with more choice. The deal gives Wolseley UK the opportunity to build on its position in the utilities market and gain one of the leading roles in the underground drainage sector.
Steve Ashmore, managing director, Wolseley UK said: “Today’s deal marks another exciting milestone in Wolseley UK’s development. We believe the utilities market, particularly the water industry, offers many growth opportunities and this purchase would put us in a great position in that market.
“The deal is also in line with Wolseley UK’s strategy to hold leading market positions in all of its businesses.”
Jeremy Burden, chief executive of WT Burden said: “Wolseley UK will provide Burdens with the level of focus it requires to realise its full potential in the market. It will benefit from being a part of a much bigger business, along with the financial strength that Wolseley UK possesses.”
Legal ownership and operational responsibility for the Burdens branches transfers to Wolseley UK today. Wolseley UK will now make a filing with the UK’s Office of Fair Trading to clear the purchase and given the largely complementary businesses of Burdens and Wolseley UK, it hopes to complete the process as soon as possible.
