Are stores from other groups on Wyevale Garden Centres' radar? Will 2016 be the year of exit for Terra Firma?
At the end of a week which saw Wyevale Garden Centres secure its 151st store with the acquisition of Wych Cross Nurseries in East Sussex, speculation was rife in the industry that the group was preparing to buy two more centres possibly belonging to another group.
GTN Xtra understands that the Wyevale aquisition team is expected to annouce two more additions before the end of the year and indications are that they could be centres from another group. As this issue goes to press Wyevale nor any of the groups contacted would confirm or deny discussions about a possible deal.
On Monday 26th October news broke that Wych Cross Nurseries in East Sussex became the 151st Wyevale Garden Centre. Since its opening Wych Cross has never traded on a Sunday but that is set to change now that the centre is owned by Wyevale.
If Wyevale do buy two more centres before Christmas, the company will have added six centres to their estate in 2015 after adding nine in 2014.
Following the acquisition of Wych Cross, Kevin Bradshaw, Chief Executive of Wyevale Garden Centres, said: “This acquisition is a great example of Wyevale Garden Centre’s strategy in action. Following every acquisition, we work hard to retain the individual heritage of each garden centre. Wych Cross Nurseries is widely loved by its loyal customers who visit for its breath-taking site in the heart of Ashdown Forest and for its remarkable plant offering. The centre is a welcome addition to our group as it supports our growth strategy and enables us to fulfil our goal of combining the very best of local and national offerings across our garden centres.”
Speculation is also building as to when Terra Firma will make a move to sell the expanded Wyevale Garden Centre business. Terra Firma bought the business for £360m in 2012 and their track record shows the majority of their historic investments were exited within 4 years. With their other 2012 investment, Four Seasons Health Care coming under pressure (as reported in the Sunday Times last weekend) it could be that this years late flurry of aquisition activity is the push towards selling or even floating Wyevale Garden Centres via an IPO in the spring.
Could it be that at The Chelsea Flower Show 2016, Guy Hands makes his annual appearance with a change of ownership of the UK's biggest garden centre group as his flourishing announcement?
