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Travis Perkins have announced that subsidiary company Wickes Building Supplies Limited, has agreed to acquire seven stores from Focus (DIY) Limited and Payless DIY Limited for a total of £4m.
The statement released by Travis Perkins said the acquired stores were well located and fitted well with the group’s Wickes retail home improvement format. All seven will be immediately converted to Wickes, increasing the network to a total of 190 stores.
Home Retail Group, parent company of Argos and Homebase, will take a futher 27 leasehold properties from the company for about £40m
Travis Perkins ceo Geoff Cooper said: “The acquisition of these seven stores further expands our Wickes network, and will help us continue our recent gains in like-for-like and total market share. We welcome the colleagues in these stores into our group and look forward to further growth in our store base in 2008 and beyond.”
The acquisition will complete before the end of 2007.
