Travis Perkins (TP) has sold Tile Giant to the directors of Mosaic Tile Company (MTC), a £33 million turnover business in which TP holds a 34 per cent stake. Andrew Thirkill and Adrian Hinchliffe who hold the positions of chairman and founder of MTC set up an investment vehicle called Coverings that has taken 100 per cent ownership from TP and will safeguard the future of the Tile Giant retail chain.
Tile Giant, owned by TP since 2007, operates from 82 stores which together generate c£50 million annual sales. TP says that going forward, it intends to fully focus on its trade offering rather than the retail market.
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