Kester Capital has thrown its weight behind a management buyout of Yougarden. The online garden centre seeks to grow its influence over the UK’s horticulture market.
Yougarden operates a direct-to-consumer brand. It also supplies retailers including Amazon, Groupon and Shop Direct.
The company focuses on speedy and flexible delivery of live plants. This an area where traditional garden centres have been slow to adapt.
The terms of the management buyout have not been disclosed. But, Kester is a long-term supporter of Yougarden, and provided seed capital for the firm in 2012.
Kester’s Cameron Crockett said the online garden retailer has a “best-in-class management team. There’s a skillset of horticultural knowledge”.
“We’re delighted to be backing the company. It has taken market share from the traditional garden centre retailers,” Crockett added.
Yougarden managing director Peter McDermott said Kester “understands our business”. He adds that the deal would give it “the extra firepower and support the company’s expansion plans”.