Wolseley buys US plumbing firm

Wolseley, the FTSE-listed builders’ merchant, has stepped up its US expansion after announcing yesterday it has acquired Davis & Warshow, a New-York-based plumbing supplier, for £49m. Davis & Warshow’s 11 sites will be intergated into its US Blended Branches business. Chief executive Ian Meakins said: “The acquistion... allows us to enter the greater New York City area, where we have historically been under-represented."