UK GARDEN CENTRES |
Custom Search
|
UK GARDEN CENTRES |
Custom Search
|
Wyevale Garden Centres SOLD!!! |
|
|
The sale price illustrates very clearly the declining fortunes of Wyevale Garden Centres over the last six years. Tom Hunter bought Wyevale in 2006 for a massive £445 million and from then on the company's fortunes have declined significantly to the present purchase price which is only 65% of the purchase price six years ago. Gary Hands, chairman of Terra Firma commented on the deal saying "The Garden Centre Group already has a leading position in a very fragmented market with long term growth prospects". Nicholas Marshall, CEO of the Garden Centre Group will retain his position at the Garden Centre Group for the foreseeable future. The nearest any company comes to the market share of the Garden Centre Group is Dobbies (owned by Tesco). However, even with recent expansion and acquisition the Garden Centre Group is way ahead on sales volume. The Garden Centre Group reported an 8% rise if first half earnings for 2011 so it would appear that the sale is strategic rather then a distressed sale. |
|
|||||
|
|
|||||||