Wolseley coy about Build Center sale
Published: 02 June, 2011
LEAMINGTON SPA: Wolseley has played down reports it has already put parts of its business up for sale, insisting that a review of its structure is still ongoing.
Finance director John Martin, confirmed that Build Center was among several businesses under scrutiny, although he insisted these units would not necessarily end up on the auction block, according to the Telegraph newspaper.
"We will improve the performance of these businesses, and then either we classify them for retention in the group or sell them," he said. "We haven't recategorised Build Center."
Mr Martin added that the group continued to explore bolt-on acquisitions. "We're looking at a number in the US, we're looking at a number in the Nordics and one or two tiny ones in the UK. There are probably one or two in France," he said.