Online garden retailer completes MBO

Thu, 27 Sep 2018 | MBO/MBI



Primrose, an online-only garden products retailer has been acquired in a management buyout (MBO) supported by Rockpool Investments.

Rockpool now holds the majority ownership while the new management team have also invested a significant stake.

Darran Green, Investment Director at Rockpool said: "We are delighted to welcome Primrose into the Rockpool portfolio, adding to our existing UK investments in consumer products and outdoor retail. We believe the company is well-positioned to capture demographic trends favouring mature, home-owning consumers who are increasingly drawn to the competitive prices and product ranges available online.

We look forward to working with Mark and his team as they cement Primrose’s position as the go-to destination for the growing online community of garden enthusiasts."

Primrose was established in 2003 and offers customers a range consisting of more than 10,000 garden and outdoor leisure products including water features, awnings, sail shades, pest control products, planters and screening.

Its revenue grew to £38m in the year ending 31 October 2017 and sells direct to consumers through UK and European online platforms.

The MBO was led by Mark Pearson, previously chief executive of Gardman Group and Solus Garden & Leisure and now Primrose's new chief executive.

Mark Pearson said: "This transaction marks an exciting opportunity to capitalise on Primrose’s existing position as the UK’s market leader in the online-only garden products sector, offering an unmatched product range and great prices. Rockpool recognised Primrose’s strengths as a high-quality online retailer from the outset.

"The business has great potential to complement its existing product offering with improved category range, combined with significant investment in the Primrose customer experience and e-commerce systems. My team and I look forward to working with investors to deliver the investment plan."

Rockpool previously invested in the UK outdoor products sector with the backing of the 2016 acquisition of Hartley Botanic domestic greenhouses.

For more news about management buyouts (MBO), click here. For all our business listings, click here.


Share this article



Latest Businesses for Sale

Licensed Convenience Retailer
Lancashire, UK Wide

Extremely attractive and highly profitable sub-Post Office and convenience store which is situated in an unopposed trading position in the highly desirable and village of Feniscowles, in a semi rural surrounding, close to Blackburn Town Centre and wi...

Asking Price: Offers Invited
Turnover: £416,000

LEASEHOLD


Licensed Convenience Shop
Manchester, UK Wide

Fantastic opportunity to purchase a busy licensed convenience store. The store is a popular local business located on the busy Moorside Road of Urmston. The business has been well-run by the current owners for twenty years and is now on the market a...

Asking Price: Offers Invited
Turnover: £390,000

LEASEHOLD


Supplier of Hand/Power Tools Bolts & Bearings
East Anglia, East of England, UK

100% of the issued share capital of this long time established Hand/Power tools, bearings, bolts, and welding business. The company provides an efficient, reliable bolts and bearings service in East Anglia. Offers invited.

Asking Price: £109,000
Turnover: £485,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
20
 
Sep
 

Thomas Cook seeking 'last-ditch' fire sale | BUSINESS SALE

Thomas Cook Group is reportedly trying to piece together a l...

 
19
 
Sep
 

Smith & Williamson and Tilney to merge | MERGER

After revealing in August this year that talks were in place...

 
18
 
Sep
 

Infrastructure investment manager takes stake in LJLA | BUSINESS SALE

Infrastructure investment management group, Ancala Partners,...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources