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Wolseley bolts on 5 buys

Wolseley plc, the trade distributor of plumbing and heating products, has announced five bolt-on acquisitions in North America and Europe for an aggregate consideration of £84m (US$176m).

Chip Hornsby, Group Chief Executive of Wolseley said: “I am pleased to announce these acquisitions. They are excellent businesses that broaden our product and geographic coverage and support our strategy of growing the business through acquisition and organic growth.”

In North America, on 1 October 2007, Wolseley subsidiary Stock Building Supply acquired Architectural Building Supply Company; on 29 October 2007, Stock acquired certain assets of Jacobi Hardware; on 5 November 2007, Stock acquired the assets of KBC Construction; and on 5 November 2007, Wolseley subsidiary Ferguson acquired the inventory of J.D’s Wholesale Plumbing & Supply.

In Europe, on 6 August 2007 Wolseley France announced that it had signed an agreement, conditional upon obtaining French competition clearance, to acquire Sofiparts.