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Tesco is planning to become Britain's biggest garden centre chain

Tesco is planning a new attempt to become Britain’s biggest garden centre chain with a raid on a company built up by Sir Tom Hunter, the Scottish businessman, according to The Sunday Times.

Lloyds Banking Group will this week formally kick-off the £300m sale of the Garden Centre Group, owner of the Wyevale and Blooms chains.The taxpayer-backed bank took control of the business in 2009 after a debt-for-equity swap diluted Hunter’s stake down to about 20%. Lloyds has recently stepped up its efforts to clean up its balance sheet by offloading non-core assets.

Source: My Retail Media

18 September 2011
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