Quayle, who died of a heart attack when on a cruise in South Africa, founded B&Q with his brother-in-law Richard Block, in 1969.
B&Q was the result of an idea that came to Quayle while he was working for Marley in Belgium in 1968, when he visited a hypermarket that had a section selling DIY tools.
They worked 66-hour weeks to establish the business. Their secret was said to be to pay their suppliers cash within a week of being invoiced, in exchange for discounts. By the time the invoice arrived, they had sold the goods so, effectively, their suppliers paid for their stock.
In 1976 Block accepted £400,000 and severed his connection with B&Q. Four years later Quayle was worth £4m, after B&Q had been taken over by Woolworth's in a £16.8m deal.
Kingfisher later bought the business.
Quayle was later chairman of Granada Leisure, then ran video rental business Cityvision and an art gallery.
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