Private equity firm puts garden centres up for sale

Private equity fund Terra Firma has put the Wyevale Garden Centre business up for sale, which has several branches in Yorkshire.

The firm said it is looking to offload its portfolio of 145 garden centres, which includes outlets in York, Wakefield and two in Huddersfield. Wyevale Garden Centre has branches across the UK, ranging in size from one to 108 acres, which Terra Firma said were profitable standalone business opportunities.

Roger Mclaughlan, CEO of Wyevale Garden Centres, said: “This investment provides a fantastic opportunity for new long-term owners looking to enter the market and existing operators seeking to expand their current operations. Wyevale Garden Centres has been transformed beyond recognition over the last few years, and our customers are responding really positively to all the improvements we’ve been making, with improved ranges, high stock availability and exceptional garden centre standards.

“Our improved business has engaged colleagues and put customers at the heart of what we do. Thanks to the hard work of all of our colleagues, we remain firmly on track to grow our sales and profits this year.”

Christie & Co is advising on the sale. Steve Rodell, managing director – retail at Christie & Co, added: “The garden centre market is vibrant and on an upwards trajectory. In recent years garden centres have become much more than places just to buy plants, evolving to become wider leisure and retail destinations with play centres for children, restaurants and other activities designed to improve the shopping experience. These attractive consumer fundamentals with multiple income streams mean the market is likely to be resilient to headwinds experienced by the high-street.

“The sale of Wyevale Garden Centres presents a unique opportunity for a wide range of buyers from financial institutions, existing garden centre operators, independent business people and entrepreneurs to buy well invested local garden centres within the price range of £200k to £35m.”

 

 

Wyevale Garden Centres is the largest operator of garden centres in the UK and began as a mail order nursery in 1932 before becoming one of the UK’s earliest garden centres in 1966. 46 years later, its current owners, Terra Firma Capital Partners, purchased Wyevale Garden Centres.

The garden centres include 144 restaurants and cafes and 700 concessions with 240 partners.  Wyevale Garden Centres employs 6,000 people .

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