It has been announced today (Tuesday) that Wyevale Garden Centres across the country - including the two stores in Louth and Horncastle - have been put up for sale.
Specialist property adviser Christie & Co has been appointed to support the private equity fund, Terra Firma, in sale of the business.
The Wyevale group - the largest operator of garden centres in the UK - boasts 145 garden centres across the country, many of which also include restaurants, cafes, and children’s play areas.
Terra Firma bought the business for £276m in 2012, and the Wyevale group employs around 6,000 people across the country.
Steve Rodell, Managing Director for Retail at Christie & Co, said: “The garden centre market is vibrant and on an upwards trajectory.
“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 within the price range of £200,000 to £35 million.”
Roger Mclaughlan, CEO of Wyevale Garden Centres, added: “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 last few years, and our customers are responding really positively to all the improvements we’ve 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.
“Thanks to the hard work of all of our colleagues, we remain firmly on track to grow our sales and profits this year.”