Ferguson plc (LSE:FERG) will look for acquisitions. William Brundage Chief Financial Officer said during the 2022 Virtual Investor Day, "When we look to our future acquisition opportunities, we have a large pipeline that allows us to continue to consolidate our fragmented markets. Our industry is comprised of thousands of mostly small- to medium-sized, independent family-owned businesses rather than large-scale competition.

And while we already have market-leading positions, the industry makeup provides us ample runway for the future".