Private equity giant buys Poundworld for £150m

VALUE retailer Poundworld has been bought by investment firm TPG which wants to accelerate the chain's growth.

The £150m, all-cash deal will see founder Chris Edwards and his son, also Christopher Edwards, along with other members of the management team retain a "substantial minority" equity stake.

TPG, which last year put £200m into online retailer Victoria Plumb, plans to accelerate the store expansion programme and invest in distribution facilities. Poundworld plans to open 40 to 50 stores a year over the... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...