Travis Perkins says there is “no basis” for the Office of Fair Trading’s (OFT) decision to review the company’s recent acquisition of the remaining 70% of Toolstation.
In a statement today, Travis Perkins said it had been informed of the OFT’s intention to review the £24m acquisition earlier this year.
“While Travis Perkins will co-operate fully with any review, the company sees absolutely no basis for this notification and will be seeking clarification from the OFT at the earliest opportunity,” it said.
Bridgwater-based Toolstation was founded by former Screwfix founder Mark Goddard-Watts in 2003. He sold 30% of the business to TP in 2008 for £18m.
The business has 103 outlets, selling a range of tools and construction materials, paints, doors, fixings and adhesives.
