Sale of timber and building materials chain

The French group Pinault-Printemps-Redoute (PPR) is divesting itself of its timber and building materials chain, Pinault Bois & Matériaux. PPR announced that the group was involved in exclusive negotiations with the British Wolseley group, which has made an offer of € 565 mio. Pinault Bois & Matériaux recorded sales of € 1.295 bn last year. Wolseley, a trading group specialising in building materials, plumbing and heating systems, has annual sales of around £ 8 bn (€ 11.6 bn) all over the world. It is represented by more than 400 outlets of the specialist retail chain Brossette in France.