Fletcher Building flogs off Aussie plumbing business Tradelink to pay down debt

Fletcher Building will report its full-year result on August 21 and already has two impairments locked in. (Image: Getty)

Rebecca Stevenson

Mon, 12 Aug 2024

Fletcher Building has sold its struggling plumbing outlet Tradelink for about $188 million and will use the money to pay down debt. The building giant said on Monday it had entered an agreement to sell its Australian plumbing supplies and distribution business to privately owned wholesale distributor Metal Manufactures, a subsidiary of US corporation Blackfriars owned by one of America's richest families, the Colburns.The sale included a cash payment of A$160m (NZ$175m) due on September 30. The rest of the purchase price...

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