Wolseley could sell Build Center ‘in two years’

Builders and plumbers merchant chain Wolseley could sell off 19 of its businesses, including Build Center, if it decides they are non-core or failed to perform.

Wolseley CEO Ian Meakins made the announcement today when he presented Wolseley’s half-year results to analysts and journalists.

Brossette, the French plumbers merchant is also in danger.

The businesses currently underperforming have been called “Performance Builders” by Meakins and efforts will be made to improve their trading performances before a decision is made to keep them within the portfolio or sell them. This is likely to take two years or so. The core businesses have been dubbed either “growth engines” or “synergy drivers”.

The group has already ‘exited’ its business interests in Ireland.