May 11, 2012
Acquisition of Bathstore by Endless LLP
Endless is pleased to announce the acquisition of Bathstore, the UK’s leading independent specialist bathroom retailer, from Wolseley plc.
Bathstore, which is headquartered in Watford, recorded sales in 2011 of £95 million, delivering EBITDA of £6.5 million. Wolseley had identified the business as a non-core operation. Endless has invested £11 million of new capital in Bathstore, as a commitment to developing the store estate and driving the e-commerce offering.
Commenting on the acquisition, Garry Wilson, Managing Partner of Endless, said:
“Bathstore is a great retail brand with a strong market position. Fresh investment and a new status as an independent company will enable the business to focus on its future growth potential.”
Bathstore employs around 500 people and operates through a network of 169 stores across the UK.