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Garden Centre Group sales bounce back as suitors circle

Garden Centre Group has benefited from the warm weather and a focus on plants to achieve a 7% rise in sales this year.

The retailer, which was put up for sale in August, was boosted by a strong performance on horticultural products during April’s heatwave, the Independent reported.

Sales at The Garden Centre Group, formerly known as Wyevale, were also buoyed by its acquisition of Country Home & Garden in August.

Lloyds Banking Group put the retailer up for sale, hiring advisers Rothschild.

Morrisons, Tesco and private equity firms including Bridgepoint have all requested to see sale documents for the business, which could be sold for £300m.

Garden Centre Group’s pretax profits plummeted from £13.2m to just £860,000 in the year to December 26.

Source : Nicola Harrison – Retail Week  

04 October 2011
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