Ferguson Said to Begin Sale of U.K. Plumbing Unit Wolseley (1)

Ferguson Plc has kicked off a sale of its U.K. business as part of efforts by the plumbing-equipment maker to focus on its North America operations, according to people familiar with the matter.

The distributor of pipes, faucets and sinks is working with a financial adviser on the sale of its Wolseley brand, which could fetch about 500 million pounds ($654 million), the people said, asking not to be identified as the matter is private.

Wolseley is generating interest from private equity firms as well as some strategic bidders, according to the people. A winner is likely to be chosen ...