Wyevale Garden Centres announced the sale of a further six centres.
A portfolio of five centres has been sold to British Garden Centres, comprising Bold Heath, Carr Gate, Leyland, Coventry and Bolton. In a separate transaction Woburn Sands has been sold to Rochmills Group. Both buyers will continue to operate all sites as Garden Centres with the sales expected to complete by the end of February.
Anthony Jones, Chief Operating Officer of WGC, said: “We are pleased to have agreed the sale of a further six centres - since the launch of the sale process in May 2018 we have sold 46 centres and have transformed our financial position. We continue to evaluate a wide range of competitive offers from group buyers, regional operators and local entrepreneurs, but we also look forward to re-focusing our efforts and trading the upcoming spring season with the vast majority of our remaining centres. We would like to thank our great colleagues at these centres, who have been central to the performance of their centres and made them so appealing to these buyers. We wish them well for the next stage of their growth and development under new ownership.”
Charles Stubbs, MD of British Garden Centres, said “We are proud to announce the purchase of these five centres into our British Garden Centres family, making our independent, family owned group now 16 centres. Myself, Robert and Phillippa and all of the team are looking forward to working with these new centres and their teams ahead of a busy spring season. We would like to express our thanks to all involved in this complex process.”
Christie & Co, the specialist business property advisor managing the sale process on behalf of WGC, has achieved considerable interest from a wide variety of buyers. The opportunity to acquire garden centres has ignited significant interest within the sector and beyond, and as part of the process Christie & Co continue to liaise with bidders.