Wolseley plc’s dynamic growth strategy has taken another step forward with a deal to acquire 19 roof truss production plants in France.
The merchant has signed an agreement to puchase Sofiparts SAS and its subsidiary companies from SAS Savare.
Sofiparts designs, engineers and assembles roof trusses. It recorded sales of €121.4m in the year ended December 31, 2006, and held assets worth €36.6m at that date.
The acquisition, conditional on competition approval, is in line with Wolseley France’s strategy to move into the truss assembly market and further increase its presence in the new residential sector.
“We are delighted to be announcing an agreement to acquire Sofiparts, a leading operator in the truss and wood frame housing market which will further complement our existing building material operations in France,” said Wolseley group chief executive Chip Hornsby.
Wolseley has spent £383m on bolt-on acquisitions for the year ending July 31 (not including Sofiparts). Including the takeover of DT Group, which Wolseley acquired on September 25, 2006, the the company has spent total of £1.72bn on acquisitions.
