BVG today acquired 100% of the share capital of Branded Garden Products. The new combined group will have a turnover of £140 million with earnings before interest, tax, depreciation and amortization (EBITDA) of around £13.5m.
BVG Group is multi-channel retailer of sporting supplements, fishing tackle, footwear and clothing, as well as, home and garden products based in Brecon, Powys. It has a distribution centre in Skelmersdale, Lancashire. Its brands include garden shed and fencing specialist Waltons.
T&M will remain in Ipswich, its home since the company was founded in 1855.
T&M has grown its product portfolio recently and says that it now offers the UK’s widest range of horticultural products. Recent additions include garden-ready plants, nursery stock, the Van Meuwen range of budget packet seed, hedging and aquatic plants, along with an assortment of complementary items such as compost, fertiliser and related items.
Thompson & Morgan reported increased profits in its last accounts, generating an EBITDA of £2.1m for the year ending June 30 2016, up from £0.85m in 2015. Turnover increased to £34m from £32m in the prior year.
In a statement, BVG said it "brings its strength in ecommerce and multi-channel marketing to combine with T&M’s deep knowledge of all things horticultural.
"T&M will continue to be run as a separate business with its current management team working with the team from BVG to explore opportunities to grow the business and to share best practice."