The late Lord Taylor probably wouldn't have been impressed. The empire he founded in 1921 at the age of 16 was this week sold for a mere £74m to Vinci. The price reflects how the fortunes of the firm have changed in recent years. As a construction company, it's certainly not the giant it once was – its turnover is £600m and its operating profit is £17.8m, reflecting its position as an appendix to Taylor Wimpey, the UK's biggest, and now most troubled, housebuilder. Vinci has big ambitions for the UK and this deal gives it the scale it needs to realise them. One might expect a certain degree of cost savings to follow – and it might make sense for Norwest Holst, also part of the Vinci stable, to be integrated with the Taywood operation. Let's just hope the sale brings the firm the sense of purpose that it has been crying out for.