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"We believe that there is a strong strategic rationale for the acquisition of BSS," says Robert Walker, chairman of Travis Perkins. "Our respective businesses are complementary and we look forward to working with BSS's customers, suppliers and employees. We are confident that this transaction can deliver significant value for the shareholders in the enlarged group."
Travis Perkins COO John Carter will lead the integration plan, which involves four phases. Plumbing and heating activities from both companies will be combined into a new division while BSS's specialist businesses will be added to Travis Perkins' specialist division.
Travis Perkins currently operates 1,238 branches in the U.K. with 2009 sales of £2.93 billion (US$4.45 billion).
The BSS Group has 442 branches in the U.K. and Ireland. Sales for the year ended March 31, 2010, were £1.35 billion (US$2.05 billion).