Private-equity firm Inflexion to acquire Ideal Shopping Direct in £78m cash deal

TV and online retailer of gardening and other products looking forward to ambitious growth plans.

Ideal Shopping Direct (ISD), the independent TV and online retailer of gardening and other products, is to be sold in a deal worth just over £78m.

Private-equity firm Inflexion made a cash offer for the business, which includes Ideal World and Creative Craft channels.

The company, which specialises in gardening, animal and craft products, runs transactional websites for each of its TV channels - an area that has seen huge growth in the last year, with online sales up 70 per cent.

Inflexion launched Cuba Bidco company for the takeover, and the management includes ISD directors Mike Hancox and Ian Jebson and ex-Halfords boss David Hamid.

The team said it was looking forward to "ambitious growth plans" over the next three to five years.

ISD was founded in April 2000 by Paul Wright and Valerie Kaye. It made a loss of more than £13m in 2008 because of tough trading conditions and "poor management decisions", said the company.

Hancox joined that year, charged with overturning the loss. Sales of £117m in 2010 were up 13 per cent on the previous year and pre-tax profit stood at nearly £7m.

IDS acquired Peter McDermott's Lead the Good Life plant and garden equipment retailer for £5m in January 2010. McDermott left the business last month.

KEY STAT

£6.7m: Ideal Shopping Direct's pre-tax profits in the year to 2 January 2011


Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Sign up now
Already registered?
Sign in

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Read These Next

Garden centre profile: Hulme Community Garden Centre, Manchester

Garden centre profile: Hulme Community Garden Centre, Manchester

High environmental standards, community work and support for local suppliers are all lessons for the wider garden retail industry, Matthew Appleby discovers.

How can garden centres reduce plastic use?

How can garden centres reduce plastic use?

Garden retailers are under pressure to use less plastic as the Government's new 25-year environment plan seeks to introduce a wave of measures to reduce pollution.

Will peat use be taxed or banned?

Will peat use be taxed or banned?

The Government has made strong statements on peat reduction in its new 25-year environment plan, published in January.


Follow us on:
  • Facebook
  • LinkedIn
  • Twitter
  • Google +
Horticulture Jobs
More Horticulture Jobs

Horticulture Week Top 100 GARDEN CENTRES 2017

See our exclusive ranking of garden centre performance by annual turnover. 

Garden Centre Prices

Peter Seabrook

Inspiration and insight from travels around the horticultural world
 

Read more Peter Seabrook articles

Neville Stein

Business advice from Neville Stein, MD of business consultancy Ovation
 

Read latest articles