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| Version 2 | Version 3 |
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| Holland & Barrett sold to Russian billionaire for £1.8bn | Holland & Barrett sold to Russian billionaire for £1.8bn |
| (1 day later) | |
| Europe’s largest health food chain has been bought by L1 Retail, an investment fund run by Mikhail Fridman | |
| Press Association | |
| Mon 26 Jun 2017 12.29 BST | |
| First published on Mon 26 Jun 2017 08.53 BST | |
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| Holland & Barrett has been acquired for £1.8bn by a retail investment fund controlled by Russian billionaire Mikhail Fridman. | Holland & Barrett has been acquired for £1.8bn by a retail investment fund controlled by Russian billionaire Mikhail Fridman. |
| L1 Retail, a division of the tycoon’s LetterOne holding company, purchased the retailer from its parent firm, Nature’s Bounty, which is owned by the private equity firm Carlyle. | L1 Retail, a division of the tycoon’s LetterOne holding company, purchased the retailer from its parent firm, Nature’s Bounty, which is owned by the private equity firm Carlyle. |
| The fund’s managing partner, Stephan DuCharme, said: “Holland & Barrett is a clear market leader in the UK health and wellness retail market, with attractive growth positions in other European and international markets, and growing online presence, with a leading customer loyalty programme and 10 million active cardholders.” | The fund’s managing partner, Stephan DuCharme, said: “Holland & Barrett is a clear market leader in the UK health and wellness retail market, with attractive growth positions in other European and international markets, and growing online presence, with a leading customer loyalty programme and 10 million active cardholders.” |
| The group hoped to take a bigger slice of the growing £10bn health and wellness market, he said, adding that L1 Retail would continue to work with Holland & Barrett’s chief executive, Peter Aldis. | The group hoped to take a bigger slice of the growing £10bn health and wellness market, he said, adding that L1 Retail would continue to work with Holland & Barrett’s chief executive, Peter Aldis. |
| Founded in 1870 and headquartered in Nuneaton, Holland & Barrett is Europe’s largest health food chain with outlets in more than 1,150 locations and a workforce exceeding 4,200. The company’s annual revenues in 2016 exceeded £610m. | Founded in 1870 and headquartered in Nuneaton, Holland & Barrett is Europe’s largest health food chain with outlets in more than 1,150 locations and a workforce exceeding 4,200. The company’s annual revenues in 2016 exceeded £610m. |
| Aldis said: “We have upgraded much of our core store portfolio to concept stores to deliver additional in-store theatre and increased customer engagement. New products launched through our ethical sourcing programme have also been a key growth driver.” | Aldis said: “We have upgraded much of our core store portfolio to concept stores to deliver additional in-store theatre and increased customer engagement. New products launched through our ethical sourcing programme have also been a key growth driver.” |
| Led by DuCharme, L1’s advisory board is made up of Karl-Heinz Holland and John Walden, the former bosses of Lidl and Home Retail Group respectively. They are joined by Clive Humby, co-founder of customer data company Dunnhumby. | Led by DuCharme, L1’s advisory board is made up of Karl-Heinz Holland and John Walden, the former bosses of Lidl and Home Retail Group respectively. They are joined by Clive Humby, co-founder of customer data company Dunnhumby. |
| Mergers and acquisitions | |
| Retail industry | |
| Health | |
| news | |
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