Kester Capital backs management buyout of Yougarden
Kester Capital has thrown its weight behind a management buyout of Yougarden, as the online garden centre seeks to grow its influence over the UK’s horticultural market.
Founded in 2012, Yougarden operates a direct-to-consumer brand and also supplies retailers including Amazon, Groupon and Shop Direct.
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The company focuses on meeting consumer demand for speedy and flexible delivery of live plants – an area where traditional garden centres have been slow to adapt.
The terms of the management buyout have not been disclosed, but Kester is a long-term supporter of Yougarden, and provided seed capital for the firm in 2012.
Kester managing partner Cameron Crockett said Yougarden has a “best-in-class management team with a unique skillset of deep horticultural knowledge, live plant supply chain management and strong marketing and customer service skills”.
“We are delighted to be backing YouGarden, which has continually taken market share from the traditional garden centre and legacy home shopping retailers,” Crockett added.
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Yougarden managing director Peter McDermott said Kester “really understands our business”, adding that the deal would give it “the extra firepower and support to accelerate the company’s expansion plans”.
Main image credit: Yougarden