Home / FINANCE / A Russian billionaire is shopping Britain’s biggest sequence of health food shops for scarcely £2 billion

A Russian billionaire is shopping Britain’s biggest sequence of health food shops for scarcely £2 billion


Holland and Barrett
Holland Barrett.
PA
Images


LONDON — Holland Barrett, Britain’s biggest sequence of health
food shops is to be bought by L1 Capital, a account headed adult by
Russian oil billionaire Mikhail Fridman.

L1 Capital will compensate £1.8 billion ($2.3 billion) to acquire
Holland Barrett from US private equity powerhouse Carlyle,
that has owned a tradesman given 2010. Carlyle bought Holland
Barrett during a takeover of US organisation Nature’s Bounty for
$3.8 billion.

L1’s squeeze of a sequence — that has around 1,150 shops
globally — outlines a initial merger given being launched at
a tail finish of 2016 by Fridman’s holding association LetterOne. It
was combined to deposit around $3 billion opposite a sell sector,
looking for companies that are “moving with and heading long-term
trends.”

“Holland Barrett is a transparent marketplace personality in a UK health
and wellness sell market, with appealing expansion positions in
other European and general markets,” Stephan DuCharme, L1’s
Retail handling partner pronounced in a statement.

“We trust that a association is good positioned to advantage from
constructional expansion in a flourishing £10bn health and wellness market
and has mixed levers for long-term expansion and value creation.”

Holland Barrett’s stream CEO is approaching to stay in his
role. Peter Aldis pronounced in a statement: “We are gay to now
be in partnership with a L1 Retail group and a advisory board
of internationally-renowned retailers.”

According to a news in a Financial Times, L1 faced
foe in a purchase, with US hulk KKR, private equity
organisation Sycamore Partners and Hong Kong’s AS Watson, that owns UK
health and beauty tradesman Superdrug, all suspicion to be
meddlesome in a retailer.

Fridman, who is behind L1 Retail, is best famous in a UK for his
time as a arch executive of oil organisation TNK between 2003 and
2012. TNK was partial of a corner try with British oil and gas
hulk BP. It was sole to Russia’s state oil company, Rosneft, for
around $56bn in 2012.

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