The proposed divestment represents further progress in simplifying the Group’s operating model.
Travis Perkins plc, the UK's largest distributor of building materials, has announced the proposed disposal of its Toolstation Benelux business
The Group has agreed to divest its Toolstation Benelux business as a standalone entity for cash consideration of €1 to Fidelium Partners. The Group will make a final capital injection of approximately £35 million to strengthen Toolstation Benelux's financial position as it transitions to independent ownership, and expects to complete the transaction before the end of the year, subject to completion of the applicable works council consultation process in the Netherlands.
The transaction is expected to complete before the end of the year, subject to completion of the applicable works council consultation process in the Netherlands.
Toolstation Benelux is an omni-channel distributor of tools, building materials and hardware, operating a network of more than 100 branches across the Netherlands and Belgium, supported by its e-commerce platform and distribution infrastructure. The business serves both professional tradespeople and prosumer clients.
The proposed acquisition represents an important opportunity for Toolstation Benelux to build on its established market position and further develop as an independent company. Under Fidelium's ownership, the existing management team, led by Managing Director Phillip Mes, will continue to lead the business and drive its future development. Fidelium intends to work closely with the management team, contributing its experience in corporate carve-outs and operational transformation to support the company's transition to independent ownership and the implementation of management's plans for the business.
Toolstation Benelux will be reported as a discontinued operation in the FY26 financial statements, with its expected loss of approximately £10 million for the full year excluded from the Group's FY26 Adjusted Operating Profit. This transaction will therefore support the Group's return to growth in profitability and allow a redirection of its resources into more value-creating activities.
Chief Executive Officer Gavin Slark said: "The proposed divestment of Toolstation Benelux represents further progress in simplifying the Group's operating model and supports our clear focus on being the UK's leading distributor of building materials. We thank all our Benelux colleagues for their efforts in establishing and developing the business that exists today. Along with Fidelium Partners we wish them well with this next phase of their journey."
Mes added: "The proposed transaction with Fidelium marks an important step towards a new chapter for Toolstation Benelux. Fidelium shares our belief in the potential of the business and brings the experience and entrepreneurial approach required to support us in realising that potential.
"Together with our colleagues across the Netherlands and Belgium, we look forward to building on the strong foundations of Toolstation and further developing the business for our customers."
