Kingfisher : Screwfix acquires assets of Connect Distribution Services Limited

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."

ENDS

About Screwfix

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.

• Over 38,000 products can be ordered over the phone, online or from a local store, with orders taken up until 8pm (weekdays) for next day delivery to home or site.*
• Unbeatable value at Screwfix is prices, quality and convenience you can trust - helping tradespeople to get what they need, when they need it. Screwfix is committed to meeting the need of its customers.
• Screwfix is committed to minimising its environmental impact to help create a better future for its customers, colleagues, communities, and the planet. Our ambition is to offer sustainable choices and source products that are made to last. At Screwfix, we believe if a job's worth doing, it's worth doing well.
• Screwfix.com and the Screwfix app attract over 7 million visits per week.
• We have over 11 million active customers a year.
• The Screwfix Click & Collect service enables customers to pick-up their goods in as little as one minute after ordering online or over the phone
• For more information visit screwfix.com screwfix.ie or screwfix.fr
• Screwfix Sprint awarded 'Best Customer Experience' at the Retail Week Awards 2022. Introduced in 2021, Screwfix Sprint allows customers to place an order on the Screwfix app and get it delivered straight to their location - either at home or on site, in less than an hour.
• RAD 2022, Best Employer Website
• Screwfix recognised at the BRC's Climate Action Roadmap Showcase 2022 for "Driving towards net zero properties".
• For more information, please visit the Screwfix Media Centre: www.screwfixmedia.com

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:

• Business-to-business operation; Connect Distribution Services, helps engineers and independent trade businesses by providing the parts they need and supporting them through Direct Delivery to their customers' doors, a dedicated website, an experienced team for support and much more.
• Consumer sites; including eSpares and BuySpares, help appliance owners with repairing their appliances themselves with the help of online advice and tutorials as well as delivering the parts they need straight to their door.
• Repair service; Repaircare, offers an expert repair service to those who don't feel comfortable fixing appliances themselves. It consists of over 500 experienced engineers providing excellent service.
• Business services which include managing websites, orders and repairs for retailers and manufacturers.
• There are more than 400 employees who are all dedicated to the vision and mission of the business.

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