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Gloucestershire Business News

Russian billionaire buys well-known retail chain

A major health and wellness retail chain with stores in Gloucester has been bought for nearly £2billion it has been announced.

Holland & Barrett, which has stores in Gloucester, Cheltenham, Stroud and Tewkesbury, will be purchased for £1.77billion by L1 Retail from US private equity firm Carlyle which has had the store since purchasing it in 2010.

The chain, with stores in more than 1,150 locations worldwide and a base of more than 4,200 associates and staff, expects to finish the transaction by September subject to customary regulatory approvals.

L1 Retail managing partner Stephan DuCharme said: "Holland & Barrett is a clear market leader in the UK health and wellness retail market, with attractive growth positions in other European and international markets.

"We look forward to working with Peter Aldis, CEO, Holland & Barrett and his strong management team.

We believe that the company is well positioned to benefit from structural growth in the growing £10billion health and wellness market and has multiple levers for long term growth and value creation."

Leading L1 retail, Stephan DuCharme will be supported by and Advisory board of internationally renowned retail leaders including Karl-Heinz Holland who was the chief executive of Lidl Group.

Other members of the board will be John Walden, the former chief executive or Home Retails Group, and Clive Humby one of the founders of dunhumby.

Holland & Barrett CEO Peter Aldis said: "We are delighted to now be in partnership with the L1 Retail team and its advisory board of internationally-renowned retailers.

"Carlyle has been a great partner for Holland & Barrett over the last few years, investing in the brand, our people, and next generation technology, which has driven our growth.

We look forward to building on this track record as we enter the next chapter with L1 Retail."

What do you think? Email: mark@moosemarketingandpr.co.uk 

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