Garden centre group Blue Diamond has bought eight former Wyevale Garden Centres located across the UK and has consequently outlined plans to invest in the sites.
The sites are as follows:
Blue Diamond ‘delighted’
Alan Roper, managing director of Blue Diamond, said: “We are delighted as a result of acquiring these fantastic centres.
“Over the next three years we plan to invest ?16m to remodel and transform them into destination centres,?similarly modelled to our Redfields Garden & Living Centre in Hampshire, and our Garden and Home store near Nottingham.
“We look forward to working with our new colleagues across the centres and welcoming them into the? family.”
Wyevale Garden Centres
Private equity firm Terra Firma placed Wyevale Garden Centres, which?has 145 branches across the UK, on the market earlier this year and Christie & Co has been appointed to oversee the process.
Roger Mclaughlan, Chief Executive of WGC, says: ?We are pleased Blue Diamond has agreed to purchase eight of our largest centres.
“We would like to thank our great colleagues at these centres. They have been central to our turnaround in the past few years. We wish them well for the next stage of their growth and development with their move to Blue Diamond?s ownership.?
Q Developments and Spitfire Bespoke Homes have also confirmed the purchase of two separate WGC sites.
Anthony Jones, Chief Financial Officer of WGC, says: ?These centres were identified for potential redevelopment.
“We continue to explore all opportunities on non-core centres as part of the ongoing sale process. We are very grateful for the dedication and commitment of the teams at these centres.?
Christie & Co
Discussions on the sale to Blue Diamond and the individual centre sales started before the appointment of Christie & Co as a way to explore offers for all or part of the remaining WGC business. That process is currently ongoing.
WGC has received a significant number of offers for all or part of the remaining WGC business from national operators. Local entrepreneurs have also made offers.