Acquisition of materials distributor marks Wolseley's push into Scandinavian market

Building materials group Wolseley has announced the conditional acquisition of Nordic materials distributor DT Group for £1,353 million.

DT Group, which has operations in Denmark, Sweden, Finland and Norway, had a turnover of £1.6 bn for the year ended 31 January 2006. The acquisition, which marks Wolseley’s entry into the Nordic market, will go ahead if it receives regulatory approval.

Charles Banks, Wolseley chief executive, said: “We are delighted to announce this acquisition, which gives us a major presence in the Nordic region for the first time and significantly broadens our European reach.”