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Global distributor Wolseley plc has agreed to acquire 22 sites from Burdens Limited, a supplier of drainage and civil engineering products in the U.K. for £30 million (US$48.1 million), including goodwill of £5 million (US$8 million).
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The sites generated revenue from ongoing business in the three months ended Sept. 30, 2012, of £40 million (US$64.1 million). About 600 employees will join Wolseley.
The sites will be integrated with Wolseley UK's core businesses, and Wolseley will have exclusive use of the Burdens name in the U.K.
"The acquisition will extend the reach of the group's successful utilities business in the U.K. and gain one of the leading positions in the underground drainage sector," said Ian Meakins, Wolseley chief executive.