Materials giant buys two more firms in France and one in US.
Materials firm Wolseley today announced three further acquisitions in the US and France.
On 1 February, the firm's US subsidiary Stock Building Supply acquired US firm Universal Supply a diversified distributor of building materials, from members of the Umosella family. The acquisition gives Stock its first presence in New Jersey operating from seven branches.
Universal is the market leader in southern New Jersey and in the year ended 31 December 2005 Universal had sales of £80m and gross assets of £23m at that date.
On the same day European arm PBM acquired Alain Carrelage, a floor tiling distributor in a suburb of Toulouse, in France. In the year ended 31 December 2004 it had sales of £2.7 million in the year ended 31 December 2004 and gross assets of £0.6m at that date.
We are delighted to announce these new acquisitions which will further strengthen our presence in Europe and North America and take our total spend in just over six months to more than £500m, twice our annual target spend.
Charlie Banks, Wolseley chief executive
On 3 February 2006 PBM agreed to acquire DAFI, a distributor of heavy side products from Daniel Audin and other shareholders. The acquisition is subject to the French Finance Ministry's approval following which the deal is expected to be completed in April 2006.
DAFI operates from 18 branches in the Rhone-Alpes region of South East France with a customer base of generalist builders' merchants. In the year ended 31 December 2004 DAFI generated turnover of £44m and had gross assets of £17.6m at that date.
Wolseley group chief executive Charlie Banks, said: "We are delighted to announce these new acquisitions which will further strengthen our presence in Europe and North America and take our total spend in just over six months to more than £500m, twice our annual target spend."