Builders merchant group Travis Perkins has bought a 49% share of the Mosaic Tile Company of Leeds.
Mosaic, which last financial year had a turnover of £8m remains in the hands of its managing director Adrian Hinchliffe, who holds the remaining 51% share.
Mosaic, which includes trading divisions Romana Tile Company, Verona Stone Company and Stone Nation, has 25 staff. It is a major importer and distributor of natural stone with materials coming from India, Turkey, Spain, Italy, Brazil, Peru and the Far East, including China and Taiwan.
The two parties have been trading together for some years and Travis Perkins chief operating officer, John Carter, said: “We have built up an excellent relationship with Adrian over a number of years. His knowledge of the industry and the experience of his team in sourcing and supplying high-quality stone is unparalleled.”
Two years ago Travis Perkins bought tile retailer Tile Giant and operates it as a separate brand. In 2008, it bought 30% of online tool retailer Toolstation, with an agreement to buy the remaining 70% after four years.
Group turnover for the eleven months to the end of November 2009 was down 8.5% compared to the equivalent period in 2008.
Total merchanting turnover was down by 13.3%, although the like-for-like sales decline for the last two months improved to 5.5%, as 2008 comparatives continue to ease.
The decline in volume relative to peak levels in early 2008 appears to have reached a plateau, but the group says it has yet to see any signs of any sustained improvement.
In Wickes, total turnover for the 48 week trading period to 28 November was up 2.6%. Like-for-like sales per trading day were up by 2.3%, with core products down by 1.4%, but showroom sales up by 23.1%.