Builders merchant RGB Building Supplies is to open a new branch in Devon and expand another in the region following a family and management buyout.
A brand new branch in Torquay and a larger Okehampton branch have been given the go ahead with both builds due to begin imminently.
In addition, a new kitchen and bathroom studio is being built at RGB’s Exeter branch, while there will also be an increase in space at the company’s head office in Barnstaple.
The expansion plans follow a successful buyout led by chief executive Kevin Fenlon and finance director Paul Turner.
The majority of the £52m-turnover company was previously owned by the Isaac family and has now been taken over by the company management but has allowed the family members to exit or reinvest in RGB.
Kevin Fenlon, chief executive, said: “We had a fantastic year last year, which means that we are now in a position to develop these two sites which were purchased some time ago.
“Both sites will be re-developed to ensure that our trade and retail customers have a better opportunity to experience working with RGB. There will also be career opportunities to join the RGB group at both branches.”
In the year to 31 March 2015, the builders merchant saw its turnover increase to more than £52m, up from £47.7m the previous year.
RGB Building Supplies operates across the South West, trading from 16 depots across Devon, Cornwall and Somerset.