Scottish serial investor Sir Tom Hunter is leading a consortium to buy garden centre chain Blooms for £30.2m. The company’s directors have recommended that their shareholders accept the offer.
Hunter’s West Coast Capital (WCC) and a consortium that includes Icelandic investor Baugur, HBOS, and some senior members of the Wyevale management team have offered 86.5p per share for Blooms, which operates 10 stores in England. Blooms revealed last month (HW, 25 January) that takeover talks were under way.
Blooms chairman Charles Good said the board felt the offer represented a good opportunity for the business. He added: “The garden centre sector is going through a period of accelerating change where there are clear benefits from joining forces.”
WCC partner Paul Davidson said: “Blooms is a particularly attractive business in the sector and there are obvious cost and revenue synergies with the Wyevale business as well as with those of the partners in WCC.”
Horticulture Week understands Blooms stores will be rebranded as Wyevale Blooms, creating a separate horticulture-focused division within Wyevale.
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