Wickes buys 13 stores from the administrators of Focus
Builders merchant and DIY retailer Travis Perkins' subsidiary company, Wickes Building Supplies Limited has agreed to acquire up to 13 leasehold properties for £8.4 million.
The company says that the acquired stores will extend the reach of the group's successful Wickes retail home improvement format.
All 13 will be converted to Wickes, increasing its network to 216 stores. These conversions will be completed before the end of 2011 and are expected to be earnings enhancing in 2012.
Geoff Cooper, Chief Executive of Travis Perkins said, 'The acquisition of these 13 stores, cherry picked from over 100 potential locations, further expands our Wickes business and will help us to continue our gains in like-for-like and total market share. We welcome the colleagues in these stores into our Group and look forward to these stores trading successfully in the Wickes Format.'
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