Builders’ merchant group Travis Perkins plans to increase investment in growing its business over the next few years.
Finance director Tony Buffin told Insider Media that the company had built up its cash reserves to £139.1m in the 12 months to December 2012, from £62.9m two years earlier.
Buffin said that large scale acquisitions of the size of Wickes or BSS are unlikely; the company is more likely to look at smaller targets in areas where it is under-represented.
“These investments will be made across a broad range of growth and maintenance areas,” Buffin said. “We’re building a distribution centre in Warrington and planning to open up a new site for each of our divisions.”
The group is also looking at mixing brands on the same site – for example putting Toolstation sections in Wickes stores, and Benchmarx showrooms in Travis Perkins branches.