Connect Distribution Services is to continue to operate with its eSpares, BuySpares, 4OurHouse and Connect Trade Portal online brands after being bought out of administration by Screwfix for £3million.
Screwfix acquired the trade/retail outlet’s e-commerce platforms, stock, intellectual property and product data, with over 400 current Connect Distribution Services employees transferring to parent group Kingfisher.
The group aims to explore opportunities to enable customers to Click & Collect orders through Screwfix’s nationwide store network as well as seeking other potential synergies with other parts of the Kingfisher Group.
Screwfix CEO John Mewett says the move secures the future of the business of Connect and its brands for its customers, engineers and colleagues. He added: “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.”
Mark Depper, COO of 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 of 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.”