DIY group for sale

Focus Wickes has put itself up for sale, according to a report in a British newspaper, the Independent. A price tag of £ 1.5 bn (€ 2.2 bn) is mentioned. Two private equity groups, Duke Street and Apax, own about 70 per cent of the company’s shares. Potential buyers named in the report are GUS (Homebase) in the UK and the home improvement giant Home Depot in the US. With an annual turnover of £ 2.445 bn in 2003, Focus Wickes has 431 stores and a combined retail area of 1.2 mio m².