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The British Wolseley Group wants to sell its Danish subsidiary DT Group. DT Group is Scandinavia's largest distributor and retailer of building materials. It owns the trade and retail brands Stark (also in Finland), Silvan, Beijer in Sweden and Neuman in Norway. DT Group, for its part, is currently selling the Silvan chain which generates eight per cent of sales.
The reason stated for Wolseley's decision is that Wolseley wishes to concentrate on its core business as distributor of plumbing items and supplier of building materials. The "synergies are not great between Wolseley and DT Group in the Nordic countries," says Søren P. Olesen, CEO of DT Group. "We will be incredibly strong with our new focus, strategy and future business," he is convinced. In a press release he is quoted as saying: "In other words, it's very good news for DT Group. Last financial year we had revenue of DKK 18.4 bn and a profit of DKK 530 mio before interest and tax, and it forms the basis for a good relationship with a new owner".
The reason stated for Wolseley's decision is that Wolseley wishes to concentrate on its core business as distributor of plumbing items and supplier of building materials. The "synergies are not great between Wolseley and DT Group in the Nordic countries," says Søren P. Olesen, CEO of DT Group. "We will be incredibly strong with our new focus, strategy and future business," he is convinced. In a press release he is quoted as saying: "In other words, it's very good news for DT Group. Last financial year we had revenue of DKK 18.4 bn and a profit of DKK 530 mio before interest and tax, and it forms the basis for a good relationship with a new owner".
