Travis Perkins

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Travis Perkins plc
Company typePublic
ISINGB0007739609 Edit this on Wikidata
IndustryBusiness-to-business, Retail
Founded1988, through merger between Travis & Arnold & Sandell Perkins
Headquarters
Northampton
,
United Kingdom
Area served
United Kingdom
Key people
Jasmine Whitbread (Chair)
Nick Roberts (CEO)
ProductsBuilding and home improvement materials, tool hire
RevenueDecrease £4,861.9 million (2023)[1]
Decrease £109.9 million (2023)[1]
Decrease £38.1 million (2023)[1]
SubsidiariesToolstation
Keyline
BSS
Benchmarx
CCF
Websitewww.travisperkinsplc.co.uk
www.travisperkins.co.uk
A lorry for Travis Perkins unloading in London. (2015)
A typical Travis Perkins yard. (2014)
The former Ripaults Factory, a grade II listed building in Enfield, taken over by Travis Perkins in 2015.[2]

Travis Perkins plc is a British builders' merchant and home improvement retailer with head offices based in Northampton. It is listed on the London Stock Exchange, and is a constituent of the FTSE 250 Index. Through its Toolstation subsidiary, the group also has operations in mainland Europe.

History

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The company began in 1797, when the Benjamin Ingram company of joiners and carpenters was founded at Beech Street in London.[3] Benjamin Ingram subsequently merged with Perkins to become Ingram Perkins in 1850.[4] Ingram Perkins then merged with Sandell Smythe & Drayson in 1970 to form Sandell Perkins.[5]

Sandell Perkins was first listed on the London Stock Exchange in 1986, shortly before it merged with Travis & Arnold in 1988, to form Travis Perkins.[6] (Travis & Arnold had been founded by Ernest Travis in 1899. Originally operating in London, the company moved to Northampton in 1904, with the Midlands becoming its core market.)[7]

Subsequent acquisitions have included AAH (46 branches) in March 1994,[8] BMSS (26 branches) in December 1995,[9] Keyline Builders Merchants (101 branches) in May 1999,[10] and Sharpe & Fisher (38 branches) in 1998,[11] Broombys Limited (nine branches) in January 2000,[12] City Plumbing Supplies Limited (48 branches) in July 2002,[13] and Commercial Ceiling Factors (twenty distribution centres) in October 2002,[14] Jayhard (53 branches) in August 2003,[15] and B&G (twelve branches) in October 2003,[16] Wickes (171 stores) in December 2004,[17] and Tile Giant in November 2007.[18]

The company had a particularly challenging time following the financial crisis of 2007–2008; it stopped its dividend and indicated it was open to declaring a rights issue.[19]

In May 2010, Travis Perkins made a successful offer to acquire BSS Group for £553m,[20] and then acquired the remaining 70% stake in Toolstation in January 2012,[21] and the whole of Solfex in January 2013.[22]

In November 2017, Travis Perkins sought support from the local community in Pimlico, when the oldest timber yard in the United Kingdom, owned by Travis Perkins, was threatened by closure to allow a housing development to proceed.[23]

In December 2018, Travis Perkins announced plans to sell City Plumbing Supplies and its other plumbing and heating businesses.[24] In October 2019, Travis Perkins announced this decision had been paused.[25]

In June 2020, Travis Perkins sought to cut 2,500 jobs under plans to close 165 branches during the COVID-19 pandemic in the United Kingdom.[26]

In October 2020, it was announced that Travis Perkins had sold Tile Giant to Coverings Ltd.[27]

In April 2021 the demerger of Wickes Group plc was completed.[28]

In May 2021 the company announced that it had agreed to sell its plumbing and heating businesses to H.I.G. Capital.[29]

By 2024, approximately 20% of Travis Perkins revenue came from Toolstation. Up to March 2024, Toolstation had continued to grow its UK market share, opening 163 new Toolstation branches between 2020 and 2022, and adding seven more in 2023. However, its mainland Europe stores were doing less well, and Travis Perkins announced Toolstation was quitting France and reviewing its operations in Netherlands and Belgium.[30]

Operations

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The company's product lines include general building materials, timber, plumbing & heating, kitchens, bathrooms, landscaping materials and tool hire.[31]

See also

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References

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  1. ^ a b c "Annual Results 2023" (PDF). Travis Perkins. Retrieved 5 March 2024.
  2. ^ "Grade II listed building on Crown Road / Southbury Road" (PDF). Enfield Society. Retrieved 18 December 2016.
  3. ^ "Share of the Week: Travis Perkins". The Times. 10 March 2018. Retrieved 24 August 2019.
  4. ^ "Bow Creek/River Lea - Leamouth". EDith's Streets. Retrieved 21 March 2015.
  5. ^ "Paddington: Economic History, in A History of the County of Middlesex: Volume 9, Hampstead, Paddington, ed. C R Elrington". London. 1989. pp. 233–241. Retrieved 21 March 2015.
  6. ^ "Travis board loses last family member". The Independent. 7 September 2001. Retrieved 24 August 2019.
  7. ^ Beckett, John (2007). The Victoria History of the County of Northampton. Vol. 6. A. Constable. p. 178.
  8. ^ "Travis Perkins expands network: Builder's merchant buys AAH building material distribution chain for pounds 42m". The Independent. 18 March 1994. Retrieved 24 August 2019.
  9. ^ "Travis Perkins buys builders' merchants". The Independent. 13 December 1995. Retrieved 24 August 2019.
  10. ^ "Travis Perkins seals £181.5m deal for rival Keyline chain". CN Plus. 6 May 1999. Retrieved 21 March 2015.
  11. ^ "Strong foundation for Trowbridge driver". Wiltshire Times. 9 August 2014. Retrieved 24 August 2019.
  12. ^ "Jobs hope follows Penrith builders' merchant take-over". Cumberland and Westmoreland Herald. 29 January 2000. Retrieved 24 August 2019.
  13. ^ "Travis Perkins Buys City Plumbing Supplies for £38.2m". Hemscott. 1 July 2002. Retrieved 21 March 2015.
  14. ^ "Travis Perkins in pounds 45m CCF deal". Birmingham Post. 3 October 2002. Retrieved 21 March 2015.
  15. ^ "Travis Perkins PLC said it has acquired Jayhard Ltd for 26.5 mln stg cash". Desktop trader. 1 August 2003. Retrieved 21 March 2015.
  16. ^ "Travis Perkins has acquired B&G". Business sale. 1 October 2003. Retrieved 21 March 2015.
  17. ^ "Travis Perkins buys Wickes chain". BBC. 16 December 2004. Retrieved 21 March 2015.
  18. ^ "Travis Perkins snaps up Tile Giant". Retail Week. 15 November 2007. Retrieved 21 March 2015.
  19. ^ "DIY firm Travis-Perkins hammered". Express Newspapers. 27 March 2009. Retrieved 24 August 2019.
  20. ^ Fletcher, Nick (28 May 2010). "BSS jumps 34% after £553m offer from Travis Perkins". guardian.co.uk. Retrieved 28 May 2010.
  21. ^ "Wickes owner buys remaining 70% of Toolstation". Retail Gazette. 3 January 2012. Retrieved 21 March 2015.
  22. ^ "Travis Perkins buys renewables firm as part of Green Deal push". Greenwise business. 30 January 2013. Retrieved 21 March 2015.
  23. ^ "Oldest timber yard in the UK faces closure". Builders Merchant News. 8 November 2017. Retrieved 24 August 2019.
  24. ^ "Travis Perkins announces plans to sell its plumbing and heating division". Heating Ventilating & Plumbing. 4 December 2018. Retrieved 1 July 2020.
  25. ^ "Travis Perkins pauses sale of plumbing and heating divisions". 22 October 2019. Retrieved 1 July 2020.
  26. ^ Rogers, Dave (15 June 2020). "Travis Perkins takes the axe to 2,500 jobs as it readies itself for looming recession". Building. Retrieved 15 June 2020.
  27. ^ "Travis Perkins sells of Tie Giant". Builders Merchants Journal. 1 October 2020.
  28. ^ "London Stock Exchange welcomes Wickes Group plc to the Premium Segment of the Main Market - Welcome Story At London Stock Exchange | London Stock Exchange". www.londonstockexchange.com. Retrieved 29 April 2021.
  29. ^ "Travis Perkins sells plumbing & heating distribution business for £325m". Sharecast. 21 May 2021. Retrieved 16 July 2021.
  30. ^ "Travis Perkins pulls Toolstation out of France". The Construction Index. 5 March 2024. Retrieved 5 March 2024.
  31. ^ "Travis Perkins". The Telegraph. Archived from the original on 24 August 2019. Retrieved 24 August 2019.
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