Acquisition
22 Septembre 2003 - 9:01AM
UK Regulatory
RNS Number:9986P
Wolseley PLC
20 September 2003
NEWS RELEASE
20 September 2003
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Wolseley plc
Wolseley spends #14 million on three acquisitions in North America
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Wolseley plc, the world's largest specialist trade distributor of plumbing,
heating and building materials products, has acquired three more businesses in
North America, for a total consideration, including debt acquired, of #14
million. In a full year, these acquisitions will add a further #37 million of
sales. Goodwill related to these acquisitions is estimated to be around #5.8
million.
North America Plumbing and Heating Distribution
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The North American Plumbing and Heating Distribution business has acquired two
businesses.
In the USA, Ferguson has acquired Liberty Equipment & Supply ("Liberty"), a
leading distributor of pipe, valves and fittings to the commercial, industrial
and marine construction markets. Liberty serves much of the Pacific Northwest
and California from five branches. As at the acquisition date of 16 September
2003, it had net assets, excluding debt, of approximately #5.1 million.
In Canada, Wolseley Canada has acquired Nuroc Plumbing and Heating Supplies Ltd.
("Nuroc"), based in Toronto. Nuroc is a distributor of a wide variety of
plumbing, heating and industrial supplies. As at the acquisition date of 4
August 2003, it had net assets, excluding debt, of approximately #1.6 million.
US Building Materials Distribution
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Stock Building Supplies has acquired JM Lumber, Inc. ("JM Lumber"), a leading
distributor of lumber and building materials to the professional contractor in
the Treasure Coast area of Florida. As at the acquisition date of 1 August 2003,
JM Lumber had net assets, excluding debt, of approximately #1.5 million.
Charles Banks, Group Chief Executive of Wolseley said:
"These bolt-on acquisitions further strengthen Wolseley's position in the US and
Canadian markets, enhancing our product offering. Furthermore they demonstrate
our continued strategy to expand through a combination of organic growth and
acquisitions."
FURTHER INFORMATION:
Wolseley plc Brunswick Group Ltd
Tel: 0118 929 8700 Tel: 020 7404 5959
Guy Stainer - Head of Investor Relations Sophie Fitton
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Exchange Rates
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The following exchange rates have been used with the acquisitions noted above:
#1 = $1.60, #1 = C$2.24
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- Ends -
This information is provided by RNS
The company news service from the London Stock Exchange
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