Belgian and Dutch Toolstation stores are getting a new owner

Toolstation’s more than 100 hardware stores in the Benelux are being acquired by a German investment group. The British owner is, however, providing the loss-making company with a capital injection.

12 million euros in the red

Travis Perkins, the British publicly traded building materials group, has sold Toolstation’s loss-making operations in the Benelux to the German investment group Fidelium Partners for a symbolic one euro. Travis Perkins will, however, provide one final capital injection of approximately 35 million pounds (42 million euros), according to the business newspaper De Tijd. The transaction is expected to be finalized before the end of the year.