Wolseley acquires majority stake in BathEmpire.com

Published on : Tuesday, March 3, 2015

WOLSELEY (2)Wolseley has acquired Livingbridge’s majority stake in bathroom retailer BathEmpire.com for an undisclosed sum, with the option to buy the remaining equity stake at a later date.

 

The plumbing giant said the investment will put them in a ‘strong position in the UK B2C online bathroom market and a scalable platform to support future growth’.

 

Private equity investor Livingbridge invested £8.5m in Luxury for less – which trades as BathEmpire.com – in July 2013. BathEmpire.com reported £26m in revenue in the year ending December 2014.

 

“The UK B2C online bathroom market is growing rapidly and BathEmpire.com gives us an established brand with a scalable platform and the opportunity to build a significant presence over time.” Said lan Meakins, Wolseley CEO.

 

Luxury for Less said in a statement: ‘We are extremely excited about working with our new partner, Wolseley, and fully expect the fresh investment and their expertise to assist the business through the next stage of development.’

Source: kbbdaily.com

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