Wolseley Group has announced it has formally completed the partial acquisition, in the form of a majority share, of premium bathroom specialist C.P. Hart.
C.P. Hart has grown significantly over the last 14 years, and the investment by Wolseley is expected to allow the business to accelerate its own ambitious expansion plans, as well as be an advantage to other Wolseley businesses in terms of shared expertise and knowledge.
The company has 17 showrooms located in and around London. All outlets are expected to carry on operating as normal and there will be no change for customers.
Simon Oakland, CEO at Wolseley, 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.”
C.P. Hart’s chairman Richard Reynolds will remain with the business and shares Simon Oakland’s enthusiasm. He commented: “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.”