History
The company had its origins in the early 1980s when Mike Williams launched Focus Homecentres for AAH Holdings plc. In 1987 Focus Homecentres was acquired by Choice Group Limited. The new company's shareholders included Mike Williams, Bill Archer and Greg Stanley (who had previously built up and sold the DIY chain Fads) Focus increased its market share with a mix of both acquisitions and organic growth including the purchase of the Do It All DIY chain from Boots in 1998. Both chains were rebranded as "Focus Do It All".
The company added a further 131 stores with the purchase of Wickes in 1999, a 'no frills' DIY chain which focused on building supplies to the trade, while the existing Focus company had targeted the light end of the market. The two store formats were thought to complement each other and so were retained as separate entities. The group became known as "Focus Wickes".
In 2000, the group expanded again with the purchase of the Great Mills chain from RMC Group. Another 98 stores were added to the portfolio. The majority of these stores were re-branded as Focus, except for some larger stores which became Wickes. By 2002, through rapid expansion and acquisition, Focus had become the second biggest DIY chain in Britain with 430 stores and sales of over £1.66 billion.
In 2005, the Wickes business and stores were sold to Travis Perkins for £950m, making a tidy return on the £350m initial investment.
By January 2007, it was clear that the company had run into financial difficulties; it was close to breaching its banking covenants and struggling under debts built up over the acquisition spree in the preceding years. The DIY market as a whole had experienced a two-year drop in sales and Focus blamed "challenging" market conditions for the difficulties. Focus appointed bankers Rothschild to advise it on a potential sale of the business.
Read more about this topic: Focus DIY
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