Travis Perkins undergoes international expansion
Wickes, the home improvement retail arm of Travis Perkins has announced that it is to expand into Ireland through a franchise deal with Moritz Home Improvements Ltd.
The franchise will see Moritz, a subsidiary of Irish commercial and residential property development company, Moritz Holdings, develop home improvement stores in Ireland under the Wickes brand.
As part of the deal, Wickes, which recently expanded its number of stores in the UK, will sell products to Moritz from its own range and receive commission on retail sales.
Wickes said that while Mortiz would be responsible for operating the business, the UK firm would provide training and marketing support.
Travis Perkins said that it anticipates the first store opening in the country during 2008. "This is an excellent low risk opportunity to gain experience of extending the Wickes brand outside the UK,"said COO of Travis Perkins, John Carter.
"We are delighted to be joining forces with Moritz in Ireland where we believe there are good prospects for a high quality trade-focussed home improvement business like Wickes."
Shares in Travis have dropped off slightly, losing 21p to 1421p.