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Blue Diamond acquires Grosvenor Garden Centre

Blue Diamond has bought the business of Grosvenor Garden Centre, near Chester, from the Duke of Westminster’s Grosvenor Estate. The garden centre property will be retained by the estate and will be leased to Blue Diamond for 35 years.

Managing director, Iain Wylie and the staff of the garden centre are expected to continue with the new owners.

Grosvenor will be the 14th garden centre operated by Blue Diamond, which is based in the Channel Islands. It already has experience of running garden centres on large estates, leasing Wilton Garden Centre from the Earl of Pembroke and Chatsworth from the Duke of Devonshire.

The addition of Grosvenor will bring the combined turnover of the group to £62m.

Grosvenor generates sales of over £6m from over 6,000 sq m. of covered space, but it has made losses in two of the last 3 years. Graham Ramsbottom, speaking speaking on behalf of the Grosvenor Estate said, “It has been clear to us for some time that in order for the business to meet its full potential it will require the specialist input and broader retailing expertise that the Grosvenor Estate does not possess.”

Alan Roper, MD of Blue Diamond, said he looked forward to developing the strengths of the businesses, “ We have long admired Grosvenor Garden Centre and its location in an area with a high volume of AB1 customers as they are our primary retail focus. This opportunity allows us to realise the true businesses potential by focusing on the garden centre’s demographic profile and strengthening the businesses point of difference.”

Garden centre specialists Gilbert Evans acted for Grosvenor as did Brabners Stuart, a leading corporate finance advisory team based in the North West of England.

Source : The Garden Forum.co.uk
www.gardenforum.co.uk/mips/gforumnews/detail.asp?recno=2898&encStr=4591334534400775

18 April 2012
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