Screwfix acquires assets of Connect Distribution Services out of administration
Screwfix has acquired the stock, intellectual property, contracts and fixed assets of Connect Distribution Services out of administration.
Connect Distribution Services sells appliance spares, accessories and consumables to both tradespeople and consumers through digital and telephone channels. Its online trading brands include eSpares, BuySpares, 4OurHouse and the Connect Trade Portal.
Screwfix has acquired the business for £3 million and will continue to operate it as a going concern.
The move has saved the jobs of over 400 current Connect Distribution Services employees who will transfer to Kingfisher Group.
Over time, Screwfix will be exploring opportunities for customers to Click & Collect orders through Screwfix’s nationwide store network.
John Mewett, Screwfix chief executive, said: “I’m very pleased to be able to secure the future of the business of Connect Distribution Services and its brands for its customers, engineers and colleagues. The business’ popular ecommerce platforms have significant growth potential and they play an important role in helping tradespeople and consumers keep products in use for longer, supporting our sustainability agenda.
“As an entrepreneurial and customer-focused family business with a 50-year history, the culture is a great fit for Screwfix and we look forward to welcoming our new colleagues.”
Mike Denny, Alvarez & Marsal, joint administrator of Connect Distribution Services, added: “We are delighted to have completed a sale of the majority of the business and assets of the CDSL group of companies to Screwfix, saving over 400 jobs. We wish the business every success under its new ownership.”
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