Toolstation

Last updated

Toolstation Limited
Company type subsidiary
IndustryRetail
Founded2003
FounderMark Goddard-Watts
Headquarters Bridgwater, Somerset, United Kingdom
Area served
  • United Kingdom
  • Netherlands
  • France
  • Germany
  • Belgium
Key people
Angela Rushforth (Managing Director)
Productstools, building materials
RevenueIncrease2.svg £633 million (2020) [1]
OwnerTravis Perkins Group Plc
Number of employees
5000 (2021)
Parent Travis Perkins plc
Website toolstation.com

Toolstation is a multi-channel retailer of tools and building materials. It has more than 500 branches in the UK, 90 in the Netherlands, 23 in France and 19 in Belgium. It was bought by Travis Perkins in 2014. The managing director is Angela Rushforth. [2]

History

Toolstation was formed in February 2003 by Mark Goddard-Watts, one of the founding family members of Screwfix Direct. [3]

In 2012 Goddard-Watts sold his shares to Travis Perkins plc. [4] [5] [6] A distribution centre in Middleton, Greater Manchester opened in August 2018. [7]

In 2019 Toolstation opened their 400th store, in Balham. [8]

During the COVID-19 pandemic in the United Kingdom, Toolstation remained open to provide its essential products to the trade and the general public. During the initial stages of the pandemic, it adopted a click and collect based retail operation in the interest of customer and colleague safety, however this was later scrapped as the pandemic prevention restrictions were eased by the Government. [9] Click and Collect is still available at all Toolstation sites and is the preferred method of purchasing by many.

In May 2023 Toolstation closed a distribution centre in Bridgwater and employees there went on to work at the Hinkley Point C nuclear power station. [10]

Roughly 20% of Travis Perkins revenue comes from Toolstation. Up to March 2024, Toolstation had continued to grow its UK market share, opening 163 new Toolstation branches between 2020 and 2022, and adding seven more in 2023. However, its mainland Europe stores were doing less well, and Travis Perkins announced Toolstation was quitting France and reviewing its operations in Netherlands and Belgium. [11] Toolstation France grew sales by 29% in 2023 but losses increased to £18m and it expected to lose another £20m in 2024. Operations in the Netherlands business were forecast to reach break-even by 2025 with Belgium forecast to break-even by 2028. [11]

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References

  1. ↑ Travis Perkins PLC, 2020 Full-Year Results”, released 2nd March 2021
  2. ↑ Grewal, Kiran (28 August 2018). "Toolstation opens its new distribution centre in Middleton". DIY Week . Archived from the original on 1 September 2018. Retrieved 3 March 2021.
  3. ↑ Thompson, James (4 January 2012). "Founder of Toolstation sells stakefor £24m". The Independent . Retrieved 3 December 2023.
  4. ↑ Sibun, Jonathan (3 January 2012). "Mark Goodard-Watts secures second fortune with Toolstation sale" . The Telegraph . Archived from the original on 5 January 2012. Retrieved 3 January 2012.
  5. ↑ "Wickes owner buys remaining 70% of Toolstation". Retail Gazette. London: Retail Gazette Publishing. 3 January 2012. Retrieved 3 December 2023.
  6. ↑ Leroux, Marcus (4 January 2012). "Toolstation founder makes it three in a row" . The Times .
  7. ↑ Grewal, Kirin (28 August 2018). "Toolstation Opens its new distribution centre in Middleton". DIY Week . Archived from the original on 1 September 2018. Retrieved 28 August 2018.
  8. ↑ https://www.electricaltimes.co.uk/toolstation-celebrates-400th-branch-opening-in-balham-with-launch-event/
  9. ↑ "What's the roadmap for lifting lockdown?". BBC News. 20 April 2021. Retrieved 21 April 2021.
  10. ↑ https://www.bbc.co.uk/news/uk-england-somerset-65629355
  11. 1 2 "Travis Perkins pulls Toolstation out of France". The Construction Index. 5 March 2024. Retrieved 5 March 2024.


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