Builders merchant chain Wolseley has announced today the sale of its Brandon Hire business to private investment company Rutland Partners.
Rutland has agreed to pay £43m for the business, which operates 177 branches, employing some 960 people. The deal is expected to complete within the next 30 days.

The decision to sell Brandon Hire comes as part of a strategy to concentrate on core business activity. Wolseley UK md Steve Ashmore said: Wolseley has taken a strategic view in deciding to sell Brandon Hire. This decision has not been made lightly, but we believe it offers the best way forward for Wolseley UK as well as for Brandon Hire and its employees."