Haskins agrees to Hobbycraft takeover

HobbyCraft, the Haskins-owned arts and craft retailer, has agreed to a takeover by Bridgepoint Capital, the private equity group worth around £100m.

Bridgepoint had competition from private equity groups Exponent and TA Associates.

HobbyCraft employs 1,600 people and owns 47 UK stores. 

HobbyCraft made pre-tax profits of £5.4m in the year to February 22 2009, an increase of 67% on the previous 12 months. Sales rose by 10.6% to £68.7m.

Owners the Haskins family also own the 4 Haskins Garden Centres. Chairman Warren Haskins founded HobbyCraft at Ferndown, Dorset in 1995.

 

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