Merchant group Wolseley has bought a majority share in bathroom specialist C.P.Hart, expanding its business into the premium bathroom retail space.
The move furthers Wolseley’s growth in bathrooms, following the company’s acquisition of bathroom and tile retailer Tubs & Tiles alongside Heat Merchants and Hevac Limited in Ireland.
With investment from Wolseley, it will allow C.P.Hart to accelerate its own expansion plans, and to share knowledge and expertise with other Wolseley businesses.
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According to the merchant group, the acquisition will see a seamless transition all outlets will operate as normal and there will be no changes for customers.
The high-end retailer will join sister plumbing and heating focused businesses Neville Lumb, DHS, Bassets and distributor Ideal Bathrooms, which were all recently acquired from Saint-Gobain.
CEO of Wolseley Simon Oakland said: “At Wolseley, we’ve known and admired C.P.Hart for a long time and we see this move as a valuable addition to our growing bathroom business.
“This acquisition takes us into the premium bathroom sector across both retail and commercial customers and we will work closely with the existing management team to capitalise on this opportunity including providing further investment to the C.P Hart business.”
Chairman of C.P. Hart Richard Reynolds will remain with the business and commented on the acquisition: “Becoming part of the Wolseley family, with its strong commitment to growing its position in the bathroom market, is a great result for our business and we are confident that Wolseley will help C.P.Hart to realise its ambitious expansion plans.”