Wyevale sells eight garden centres to Blue Diamond
The centres included in the sale are Bicester, Cadbury, Cardiff, Endsleigh, Melbicks, Percy Throwers, Sanders and Weybridge.
Roger Mclaughlan, chief executive of Wyvale Garden Centres, said: “We are pleased to have agreed the sale of eight of our largest centres to Blue Diamond, one of the UK’s biggest and most experienced garden centre operators. We would like to thank our great colleagues at these centres, who have been central to our turnaround in the past few years and wish them well for the next stage of their business’s growth and development under Blue Diamond’s ownership.”
Blue Diamond will be investing £16 million in remodelling the centres over the next three years to make them more like its Redfields Garden & Living Centre in Hampshire, and its Blue Diamond Garden and Home store near Nottingham.
Alan Roper, managing director of Blue Diamond, said: “We are delighted to be acquiring these fantastic centres. We look forward to working with our new colleagues across the centres and welcoming them into the Blue Diamond family.”
In separate transactions, Wyevale has also agreed the sale of two further centres in Alfold and Binfield to Q Developments and Spitfire Bespoke Homes respectively. It has also agreed to sell a parcel of excess land adjacent to its Beaconsfield centre to Oakford Homes. The company said all three sites are likely to be redeveloped for residential use.
Anthony Jones, chief financial officer of Wyevale vale Garden Centres, said: “These centres were previously identified for potential redevelopment as part of the company’s active portfolio management strategy. We continue to explore all opportunities on non-core centres as part of the ongoing sale process. We are very grateful for the dedication and commitment of the teams at these centres.”
Wyevale said discussions regarding the sale to Blue Diamond and the individual centre sales started before the appointment of Christie & Co to explore offers for all or part of the remaining Wyevale Garden Centre group business. With the process is continuing, the company has revealed that it has received a number of offers for all or part of the remaining business from a range of national, regional and financial operators as well as local business people.
Owned by Terra Firma, Wyevale is the UK’s biggest garden centre chain with 145 garden centres, ranging from local horticultural centres to major leisure destination venues.
Meanwhile, Blue Diamond operates 21 garden centres in England and the Channel Islands.
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