Wolseley plc has entered the Swiss market following the £52m acquisition of Tobler Management Holding AG.
Tobler, which has a 22% market share in the Swiss heating, ventilation, air-conditioning and “behind the wall” sanitation product sectors, is Wolseley’s fourth acquisition since August 1.
UK-based Wolseley, which runs the Builder Center and Timber Center chains, has spent £66m on the take-overs, which also cover the US building materials and North American plumbing and heating distribution sectors. The acquisitions are expected to add an additional £142m to group sales in a full year.
