The sites generated revenue from ongoing business in the three months ended 30 September 2012 of approximately 拢40m.
With Burdens having close top 50 depots int he UK and Ireland and annual turnover of approximately 拢330m, the deal represents about half of Burdens' business.
Consideration is expected to amount to approximately 拢30m including goodwill of 拢5m.聽 Approximately 600 Burdens employees will join Wolseley, while 500 will stay with Burdens.
Burdens鈥� sites will be integrated with Wolseley UK鈥檚 core businesses and Wolseley will have exclusive use of the Burdens name in the UK. Burdens has yet to disclose what name it will use for the rump of the business.
Wolseley chief executive Ian Meakins said: 鈥淟ike our other UK businesses, Burdens has a well established reputation.聽 The acquisition will extend the reach of the Group's successful utilities business in the UK and gain one of the leading positions in the underground drainage sector.聽 We warmly welcome the Burdens staff that are transferring into the group and look forward to building the pre-eminent brand in this attractive market.鈥�
, pending negotiation of this deal, which was made more complex by the fact that Burdens鈥� is 鈥� or was 鈥� co-owned by employees.
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