Wolseley buys Westburne
June 11, 2001
A conditional contract has been signed to enable Wolseley plc (London, England), parent company of Ferguson Enterprises (Newport News, Va.) to acquire the share capital of The Westburne Group from Paris-based Rexel S.A. The acquisition, which includes Westburne Plumbing & Waterworks in Canada, Westburne Supply in the United States, Westburne Refrigeration & HVAC in Canada and Westburne Industrial Products in Canada, involves a cash-free/debt-free price of $355.6 million (U.S.). Completion is subject to competition authority clearances, which are expected about the end of June.