Travis Perkins completed the demerger of Wickes Group in a $900m deal.

Travis Perkins, British builders' merchant and home improvement retailer, completed the demerger of Wickes Group, a home improvement retailer, in a $900m deal. “I am very pleased that we have reached a significant milestone in the process to demerge Wickes from the Travis Perkins Group. It is testament to the strength of both the group and Wickes operating models that we are back on track to complete the demerger despite the pandemic. The demerger is an important step towards simplifying the group and enabling Travis Perkins to focus on its trade customers. The separation will allow both businesses to allocate capital to drive growth and further enhance their market leading positions," Nick Roberts, Travis Perkins CEO. On March 20, 2020,Travis Perkins announced that it had placed the process on hold in order to focus on managing through the Covid-19 pandemic and to maximize liquidity across Travis Perkins. On March 2, 2021, the Board announced the decision to recommence the Wickes demerger process.