Travis Perkins to review options for Wickes DIY chain
Travis Perkins has said that it is reviewing options for maximising the value of its Wickes DIY chain as part of plans to simplify its business.
In a statement, the group said it will be focusing more on its trade customers and looking to achieve sales growth by building on the momentum in its contract merchanting businesses and expanding its Toolstation chain. It will also be exploring a potential sale of its plumbing and heating division.
John Carter, Travis Perkins chief executive, said: “We have developed a clear plan to focus on delivering best-in-class service to our trade customers, and to simplify the group to reduce complexity, speed up decision making and reduce costs. Our trade businesses hold strong positions in attractive markets, and these initiatives will enable us to concentrate our management time and capital in the highest returning areas.”
Looking at Wickes, the group said it will also be aiming to strengthen the chain’s performance and capitalise on its competitive advantage in the DIY, small trade, and kitchen and bathroom markets.
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