This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-36557115
The article has changed 4 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Tesco sells Dobbies Garden Centres for £217m | Tesco sells Dobbies Garden Centres for £217m |
| (35 minutes later) | |
| Tesco has sold its garden centre chain Dobbies for £217m as the retailer continues with its strategy of focusing on its supermarket business. | |
| Dobbies has been sold to a group of investors led by Midlothian Capital Partners and Hattington Capital. | |
| The sale comes a week after Tesco announced the sale of UK restaurant chain Giraffe and its Turkish business. | |
| Tesco bought Dobbies in 2007 for £150m and it is now the UK's second largest gardening retailer. | Tesco bought Dobbies in 2007 for £150m and it is now the UK's second largest gardening retailer. |
| It operates 35 garden centres in Scotland, England and Northern Ireland. Tesco said that the business contributed £17m to its annual profits last year. | |
| Core focus | Core focus |
| Tesco has embarked on an asset sale programme in recent months, disposing of what it considers to be non-core parts of its business. | Tesco has embarked on an asset sale programme in recent months, disposing of what it considers to be non-core parts of its business. |
| In addition to the recent sale of the Giraffe chain and Kipa, Tesco sold its South Korean business, Homeplus, last September for £4.2bn. | In addition to the recent sale of the Giraffe chain and Kipa, Tesco sold its South Korean business, Homeplus, last September for £4.2bn. |
| The sales are part of attempts by Tesco chief executive Dave Lewis to revive the retail giant's fortunes. | The sales are part of attempts by Tesco chief executive Dave Lewis to revive the retail giant's fortunes. |
| Announcing the sale of the garden centre business, Mr Lewis said: "Through their hard work and dedication to customers service Dobbies colleagues have built a great business and I would like to thank them for everything they have done. | Announcing the sale of the garden centre business, Mr Lewis said: "Through their hard work and dedication to customers service Dobbies colleagues have built a great business and I would like to thank them for everything they have done. |
| "It was a difficult decisions to sell the business but we believe this agreement will give Dobbies a bright future while allowing our UK retail business to focus on its core strengths." | "It was a difficult decisions to sell the business but we believe this agreement will give Dobbies a bright future while allowing our UK retail business to focus on its core strengths." |