The Wolseley Group has formally completed the partial acquisition, in the form of a majority share, of bathroom specialist C.P. Hart.
The move is described as “further(ing) Wolseley’s strategic growth drive and will see the business expand into the premium bathroom retail space”. C.P. Hart has “grown significantly over the last 14 years” and the investment by Wolseley is designed to allow the company to “accelerate its own ambitious expansion plans, as well as to share knowledge and expertise with other Wolseley businesses”.
Wolseley says that, in common with its other recent acquisitions, the transistion be seamless transition with all outlets continuig to operate as normal and with no change for customers.
Simon Oakland, CEO at Wolseley, said: “At Wolseley, we’ve known and admired C.P. Hart for a long time and we see this move as a valuable addition to our growing bathroom business. This acquisition takes us into the premium bathroom sector across both retail and commercial customers and we will work closely with the existing management team to capitalise on this opportunity including providing further investment to the C.P. Hart business.”
C.P. Hart’s Chairman, Richard Reynolds will remain with the business and shares Simon Oakland’s enthusiasm. He said: “Becoming part of the Wolseley family, with its strong commitment to growing its position in the bathroom market, is a great result for our business and we are confident that Wolseley will help C.P. Hart to realise its ambitious expansion plans.”
