The builders merchant revealed last December that it was to “review options” for Wickes, as part of a drive to “simplify” the wider group and maximise value for shareholders.

Speculation had been mounting that Travis Perkins would ultimately seek to offload the business – a plan it confirmed in its interim results statement this morning.

It said the decision to demerge Wickes reflected a “focus on advantaged trade businesses and the simplification of the group”.