In This Issue
One good week and gardening sales get going
Petition to get garden centres in Scotland and Wales open again as soon as possible gains momentum, but they still need our help
Hozelock adds to popular trigger sprayer range
Floralsilk opens impressive purpose built showroom
Stock up on smiles for 2021 with DCUK
Get set go – supporters confirm plans for Garden Re-Leaf
Online garden products retailer sold to private equity firm
Plant sales point to a summer of colour
elho earns Certified B Corporation status
Scotsdale warehouse extension gets green light
HTA reports tough trading conditions in January
Record manufacturing output and inventory holding to serve increased customer demand
March decision date for spoga+gafa
Garden centres in Top 10 list for 'popular local retailers'
Not all topsoils are created equal!
Cost and time reduction for nursery management
Altons BBQ World, Aylett Nurseries, Barton Grange, Baytree, Busy Bee, Groves, Pengelly, Pughs, The Old Railway Line and Squires Badshot Lea are the winners of GTN's Greatest Christmas Awards
Christmas Future Trends at Glee's Festive Focus Day
GTN's Christmas Special Issue - read on-line here
Get your own copy of GTN Xtra
Plant feeding frenzy boosts garden product sales
HTA reacts to post-Brexit trade rules in Northern Ireland
Early Birds and better weather send growing media sales crazy
HTA’s OMC agree to form group to communicate industry’s future research needs
Cold weather boost for Wild Bird Care
BHETA moves Exclusively Show to August
Understanding and developing ornamental horticulture in China
The best of last week's
Joules acquires digitally led retailer Garden Trading
Pearson Memorial medal awarded to Adam Wigglesworth of Aylett Nurseries
AMES UK invest more than £1m in infrastructure and people in response to increasing market demand
Looking forward to better weather
New Board Members and Future Chairman confirmed at GCA AGM
The green shoots of recovery
From Seeds to Suet, Honeyfield’s continue to innovate
Get your own copy of GTN Xtra
Barton Grange Christmas 2020 - Exclusive GTN Xtra Photo Tour
Squires Badshot Lea - Christmas 2020
Perrywood at Christmas 2020 - with correct photo gallery now...
British Garden Centres open their 58th centre at Thatcham
Haskins Snowhill re-opens after £15m re-vamp
Bestsellers Top 50 charts every week
Buy your subscription to the GTN Bestsellers printed weekly newsletter
All the latest news from the world of pet products
Pet brands triumph in Product of the Year awards
ChickenGuard achieves record worldwide sales
OATA seeks urgent government action over import problems
Virtual Petindex is open for registrations
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Online garden products retailer sold to private equity firm
 

Risk Capital Partners, a London-based private equity firm has further enhanced their consumer-focused portfolio with the acquisition of online gardening products retailer, Primrose.

 

Founded in 2003 and now Europe’s largest pure play online garden products retailer, Primrose offers a ‘one stop shop’ for all things horticultural, sourced from a diverse network of international suppliers, as well as local UK nurseries and growers. The products are sold direct to consumers, via its UK and European websites.

 

Sales at Primrose surged last year, as the coronavirus pandemic triggered a global gardening boom. Similarly, as an online-only retailer, Primrose was able to take advantage of the significant opportunities in online sales within the sector.

 

Primrose was most recently owned by Rockpool, a private equity firm which backed the landmark private equity management buy-out of Primrose in 2018, led by a specialist deal team from Smith Cooper Corporate Finance (SCCF) two years ago. Risk Capital Partners then acquired Primrose in November 2020, providing working capital investment to support a continued growth in trading and online sales.

 

Independently owned, Risk Capital Partners focus is “working with entrepreneurs with ambition and helping them to achieve transformational growth through acquisitions, roll-out programmes and bold organic growth strategies.” Primrose was identified as a key investment opportunity, following which a growth capital deal was agreed.

 

Primrose will continue to trade as normal, led by its existing management team - Mark Pearson (CEO) and Ross Chester (CFO). Darren Hodson and Joshua Gurton from Smith Cooper Corporate Finance (SCCF) supported management on the transaction.

 

Mark Pearson said: “This transaction marks an exciting opportunity to capitalise on Primrose’s existing position as the UK’s market leader in the online-only arena. In the last few months, we’ve enhanced our product range and also invested significantly in our internal and e-commerce systems, ensuring we have robust foundations for the next phase of growth.”

 

Darren Hodson, Partner at SCCF comments “We were delighted to support Mark and Ross throughout this transaction. Having supporting Mark in the acquisition of Primrose 2 years ago, we already understood the business and the aspirations of its management team and were therefore well placed to advise.”

 

“Primrose offers favourable long term market drivers for the British and European garden product markets, and there remains plenty of opportunity for continued and strategic growth and consolidation of the fragmented sector in which they operate.”

 

Smith Cooper is one of the largest independently owned and preferred accountancy and business advisory firms for owner managed businesses across the Midlands. The firm specialises in providing intelligent, efficient and cost-effective bespoke advisory services to both corporate and individual clients. Smith Cooper has six offices across the Midlands including Derby, Birmingham and Nottingham.

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