UK DIY News
Wolseley Group Acquires Majority Stake In C.P. Hart
Wolseley Group has formally completed the partial acquisition, in the form of a majority share of bathroom specialist C.P. Hart.
The move will further Wolseley’s strategic growth drive and will see the business expand into the premium bathroom retail space.
C.P. Hart has grown significantly over the last 14 years, and the investment by Wolseley allows C.P. Hart to accelerate its own ambitious expansion plans, as well as to share knowledge and expertise with other Wolseley businesses. As with other recent successful acquisitions for Wolseley, it will be a seamless transition; all outlets will operate as normal and there will be no change for customers.
Simon Oakland, CEO at Wolseley, said: “At Wolseley, we’ve known and admired C.P. Hart for a long time and we see this move as a valuable addition to our growing bathroom business.
“This acquisition takes us into the premium bathroom sector across both retail and commercial customers and we will work closely with the existing management team to capitalise on this opportunity including providing further investment to the C.P. Hart business.”
C.P. Hart’s Chairman, Richard Reynolds will remain with the business and shares Simon Oakland’s enthusiasm.
Richard said: “Becoming part of the Wolseley family, with its strong commitment to growing its position in the bathroom market, is a great result for our business and we are confident that Wolseley will help C.P. Hart to realise its ambitious expansion plans.”
Source : Wolseley UK
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