Wyevale Garden Centres (?WGC?), the UK?s biggest garden centre operator, today announces the sale of five centres.
A portfolio of four garden centres: Salisbury, West Parley, Fair Oak and Landford have been sold to In-Excess UK Limited. Hereford Wellington centre has been sold to English Salvage Limited.
Both buyers are delighted by the opportunity to expand their existing businesses and will continue to operate these sites as garden centres.
Roger Mclaughlan, Chief Executive of WGC, said: ?We are pleased to have agreed the sale of a further five centres. We would like to thank our great colleagues at these centres, who have been central to our turnaround in the past few years, and wish them well for the next stage of their growth and development under new ownership.?
The sales are expected to complete by end November.
Anthony Jones, Chief Financial Officer of WGC, said: ?Since the launch of the sale process in May we have now sold 35 ?non-core? centres and are currently evaluating a wide range of competitive offers from the group buyers, regional operators and local entrepreneurs. We look forward to further positive discussions with all potential buyers.?
Christie & Co, the specialist business property advisor managing the sale process on behalf of WGC, have run a two phase process that has achieved considerable?interest from a wide variety of buyers. The sale of four garden centres to In-Excess marks the third completed multiple site deal. The opportunity to run one, a small group or a portfolio of garden centres has?ignited interest within the sector and beyond, and Christie & Co continue to liaise with phase 2 bidders as the process continues.