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UK: Holland & Barrett has been acquired
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Photo ©Wikipedia: Holland & Barrett Health Foods shop.
We learn from The Guardian that the market leader in the UK health and wellness retail market, Holland & Barrett, has been acquired for £1.8bn by a retail investment fund controlled by Russian billionaire Mikhail Fridman.
L1 Retail, a division of the tycoon’s LetterOne holding company, purchased the retailer from its parent firm, Nature’s Bounty, which is owned by the private equity firm Carlyle. Holland & Barrett is a market leader in the UK health and wellness retail market. The international branch runs outlets also in other European and international markets and the online presence is growing. The customer loyalty programme counts 10 million active cardholders.The firm also offers organic brands in several categories like foods, teas, cosmetics and personal care.
Founded in 1870 and headquartered in Nuneaton, Holland & Barrett is Europe’s largest health food chain with outlets in more than 1,150 locations and a workforce exceeding 4,200. The company’s annual revenues in 2016 exceeded £610m. Fridman said that the group hoped to take a bigger slice of the growing £10bn health and wellness market, adding that L1 Retail would continue to work with Holland & Barrett’s chief executive, Peter Aldis.