London Stock Exchange welcomes Wickes Group plc to the Premium Segment of the Main Market

Today, London Stock Exchange welcomes Wickes Group plc (“Wickes” or “the Group”) to the Premium Listing Segment of the Official List and to trading on the Main Market of London Stock Exchange. 

This follows the de-merger of the Group from Travis Perkins plc. No new funds have been raised. Wickes’s ticker is WIX.L and its free float is 100%.

Significant shareholders include Dimensional Fund Advisors, Harris Associates, Mondrian Investment Partners, Newton Investment Management, Pzena Investment Management and Sprucegrove Investment Management. 

Wickes is one of the UK’s best known home improvement retailers. Having opened its first store in 1972 the Group now has over 230 stores across the UK, employing 8,500 colleagues and offering products ranging from kitchens and bathrooms, to paint, tools and timber.

It is a successful, growing, cash generative and profitable business, operating in the large and growing £25 billion UK Home Improvement market. Over the past few years Wickes has consistently outperformed the market, growing share and delivering a CAGR growth rate double that of the market.

Wickes has a clear purpose, which is to ‘help the nation feel house proud’ and it does this by focusing on three customer segments - Local Trade, Do-It-For-Me and DIY Retail.  

Its highly distinctive proposition, balanced across these three customer segments, means it can capture the full breadth of the market growth opportunity as it is much more than just a DIY business.

The Group is digitally-led and service enabled, fulfilled by a low cost, efficient and totally integrated operating model.  

With over five million on-line customers, almost two thirds of all sales emanate in the digital space. However, as 98% of sales are fulfilled directly from the Group’s physical estate this ensures that it benefits from digital growth without digital dilution.
 
Wickes has proven levers for growth across its three customer segments of Local Trade, Do-It-For-Me and DIY Retail and is committed to ensuring that growth is delivered responsibly, minimising impact on the environment, supporting the communities it serves and creating a winning culture where colleagues can gain new skills and build their careers.

Wickes CEO, David Wood said: “This is a momentous day for Wickes as we become a standalone business.  I’d like to thank everyone who has helped us come this far, especially our fantastic colleagues and to welcome our new shareholders to Wickes.  Our unique proposition, digital capability and efficient operating model has enabled us to respond rapidly to the changing demands of our customers.  We are able to provide customers with everything they need to achieve their home improvement plans and we are well placed to capitalise on the exciting growth opportunities we see in our markets while creating long-term value for all our stakeholders.”

Deutsche Bank and Citi are Joint Financial Advisors and Joint Sponsors.

Quick facts

Track
Market: Main Market
Instrument market cap (£m)
668.31
Listing/Admission to trading
28 Apr 2021
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