Guy Hands’ Terra Firma mulls sale of Wyevale Garden Centres
Guy Hands’ Terra Firma is considering a sale of its garden centre business Wyevale after four years of ownership.
The private equity house has already been approached by several suitors and has also held talks with advisers to work on the sale including Goldman Sachs, according to The Sunday Times, citing a price tag of around £700m.
Wyevale, which operates around 144 garden centres across the UK, has performed well over the last few years. Underlying earnings before interest, tax, depreciation and amortisation rose by 31.4 per cent to £56.1m in 2014 on sales up five per cent to £290.4m.
News of a possible sale comes after Home Retail agreed to sell its rival gardening and DIY chain Homebase to Australian firm Wesfarmers for £340m.
A spokesperson for Terra Firma declined to comment.