Vennings builders' merchant in Penarth, South Glamorgan has been sold to Travis Perkins for an undisclosed amount.
Nick Osborne, managing director of Vennings bought the company in 1986. "Travis Parkins expressed an interest and made me an offer, and I felt it was right to let them take Vennings on to the next stage," he says.
Mr Osborne has other local businesses, DIY store Wasons and Robert James household store that are not part of the deal.
"The sale gives me more time to focus on the other businesses and I have ideas to open another DIY store outside Penarth," Mr Osborne says. "All employees of Vennings will be taken on by Travis Perkins so there will be no loss of jobs locally," he says.
