Wolseley UK has announced it is to sell its Electric Center business to Edmundson Electrical.
Electric Center employs around 570 people and operates through a network of 84 branches. In 2010, its turnover was £129 million.
Wolseley UK has made a decision that electrical wholesale is no longer a core strategic business activity for the UK business.
The announcement follows unconfirmed rumours at the end of May that the merchant group was considering selling three of its businesses – Electric Center, Build Center and Encon.
Wolseley UK’s Managing Director Steve Ashmore said: “This decision has not been taken lightly as Electric Center is a fundamentally sound and well-run business, but we believe it offers the best way forward for Wolseley UK as well as for Electric Center and its employees.”
Wolseley UK anticipates that the deal will complete by the end of July.
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