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Travis Perkins buys remaining 70% of Toolstation

Travis Perkins, owner of DIY chain Wickes, has bought the remaining 70% of hardware supplier Toolstation for £24 million.

CITY & CORPORATE

Travis Perkins buys remaining 70% of Toolstation

Travis Perkins, owner of DIY chain Wickes, has bought the remaining 70% of hardware supplier Toolstation for £24 million.

The group acquired 30% of Toolstation from owner Mark Goddard-Watts in 2008 for £18 million. Since then Toolstation has grown from 12 to 103 outlets and has also developed a fast-growing online and catalogue business.

Goddard-Watts launched the business in 2003 after leaving rival Screwfix, which he also founded, following its takeover by B&Q owner Kingfisher. He is expected to remain involved with Toolstation.

Geoff Cooper, chief executive of Travis Perkins, said: "Toolstation is a great addition to our consumer division and will add to our growth in market share and returns."

He added: "Following this acquisition of the outstanding equity, we will look to further exploit Toolstation as part of our service to the trade and to DIY customers."
 
 

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