Screwfix, the UK’s leading omnichannel trade retailer and part of Kingfisher plc, today announces it has acquired the stock, intellectual property, contracts and fixed assets of Connect Distribution Services out of administration, for a cash consideration of £3 million, following the appointment of Alvarez & Marsal as administrators.
Connect Distribution Services Limited is the leading retailer of appliance spares, accessories and consumables to both tradespeople and consumers through digital and telephone channels.
Screwfix will continue to operate the business as a going concern, acquiring its e-commerce platforms, stock, intellectual property and product data, with over 400 current Connect Distribution Services employees transferring to Kingfisher group.
Connect Distribution Services’ online trading brands, which include well-known sites such as eSpares, BuySpares, 4OurHouse and the Connect Trade Portal, will continue to operate as normal.
There are many opportunities for synergy, with both businesses serving B2B and B2C customers through leading digital and fulfilment platforms. Over time, Screwfix will explore opportunities to enable customers to Click & Collect orders through Screwfix’s convenient nationwide store network. There is also potential to generate synergies with other parts of the Kingfisher Group.
John Mewett, Screwfix CEO, said: “I’m very pleased to be able to secure the future of the business of Connect Distribution Services and its brands for its customers, engineers and colleagues. The business’ popular ecommerce platforms have significant growth potential and they play an important role in helping tradespeople and consumers keep products in use for longer, supporting our sustainability agenda. As an entrepreneurial and customer-focused family business with a 50-year history, the culture is a great fit for Screwfix and we look forward to welcoming our new colleagues.”
Mark Depper, COO, Connect Distribution Services said: “I’m delighted that Screwfix and Kingfisher have recognised the strengths of the brands and will continue to run this amazing business that my father started 50 years ago. I’m confident that this new ownership will realise the full potential of the brands.”
Mike Denny, Alvarez & Marsal, Joint Administrator of Connect Distribution Services said: “We are delighted to have completed a sale of the majority of the business and assets of the CDSL group of companies to Screwfix, saving over 400 jobs. We wish the business every success under its new ownership.”
With over 870 stores across the UK, Ireland and France, and an extensive product range of over 38,000 products, Screwfix is convenient, straightforward, and affordably priced, help busy tradespeople get their jobs done quickly, affordably, and right first time.
Screwfix is part of Kingfisher plc, the international home improvement company with more than 1,500 stores, supported by a team of over 80,000 colleagues.
From power tools and work wear to cables and pipe fittings, Screwfix offers over 10,000 products available to pick up from over 870, conveniently located stores.
About Connect Distribution Services
In 1969, CDSL Group was founded by Michael Depper, a Birmingham-based appliance engineer. Mr Depper saw the chance to make some extra cash by selling spare parts to fellow engineers.
The business is made up of many parts:
About Kingfisher plc
Kingfisher plc is an international home improvement company with over 1,500 stores, supported by a team of over 80,000 colleagues. We operate in eight countries across Europe under retail banners including Screwfix, B&Q, Castorama, Brico Dépôt, TradePoint and Koçtaş. We offer home improvement products and services to consumers and trade professionals who shop in our stores and via our e-commerce channels. At Kingfisher, our purpose is to help make better homes accessible for everyone. www.kingfisher.com