Wyevale Garden Centres put up for sale
- Credit: Archant
A North Somerset garden centre could be sold after its owner was put on the market.
Wyevale Garden Centres, which owns Cadbury in Congresbury, has been put up for sale by owner Terra Firma Capital Partners.
The sale could see all 145 of the company’s sites being sold in one go or each centre sold off individually, with prices ranging from £200,000 to as much as £35million.
Wyevale Garden Centres chief executive Roger Mclaughlan said: “This investment provides a fantastic opportunity for new long-term owners looking to enter the market and existing operators seeking to expand their current operations.
“Wyevale Garden Centres has been transformed beyond recognition over the past few years, and our customers are responding really positively to all the improvements we have been making, with improved ranges, high stock availability and exceptional garden centre standards. Our improved business has engaged colleagues and put customers at the heart of what we do.
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“Thanks to the hard work of all our colleagues, we remain firmly on track to grow our sales and profits this year.”
Terra Firma bought Wyevale in 2012 for £276million.
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The private equity firm previously attempted to sell the company for up to £700million.
The latest sale is being carried out by property advisor Christie & Co which is attempting to find buyers.
Retail managing director Steve Rodell said: “The garden centre market is vibrant and on an upwards trajectory.
“In recent years garden centres have become much more than places just to buy plants, evolving to become wider leisure and retail destinations with play centres for children,restaurants and other activities designed to improve the shopping experience.
“These attractive consumer fundamentals with multiple income streams mean the market is likely to be resilient to headwinds experienced by the high street.
“The sale of Wyevale Garden Centres presents a unique opportunity for a wide range of buyers from financial institutions, existing garden centre operators, independent business people and entrepreneurs to buy well-invested local garden centres.”