Garden centres up for sale as parent company Wyevale put on market
PUBLISHED: 12:08 30 May 2018 | UPDATED: 12:08 30 May 2018
Garden centres across Somerset could be sold after the company which runs them was put on the market.
Wyevale Garden Centres, which owns sites including Cadbury in Congresbury, Sanders in Brent Knoll, and Cheddar has been put up for sale by owner Terra Firma Capital Partners.
The sale could see all 145 of the company’s sites being sold in one go or each centre sold off individually, with prices ranging from £200,000 to as much as £35million.
Wyevale Garden Centres chief executive Roger Mclaughlan said: “This investment provides a fantastic opportunity for new long-term owners looking to enter the market and existing operators seeking to expand their current operations.
“Wyevale Garden Centres has been transformed beyond recognition over the past few years, and our customers are responding really positively to all the improvements we have been making, with improved ranges, high stock availability and exceptional garden centre standards.
“Our improved business has engaged colleagues and put customers at the heart of what we do.
“Thanks to the hard work of all our colleagues, we remain firmly on track to grow our sales and profits this year.”
The Sanders site, off the A370, was owned by now-Grand Pier owners Kerry and Michelle Michael and brothers Chris and Mike Sanders but was sold to Wyevale in a multi-million-pound deal in 2007. Wyevale was then bought out by Terra Firma in a £276million deal five years later.
The latest sale is being carried out by property advisor Christie & Co which is attempting to find buyers.
Retail managing director Steve Rodell said: “The garden centre market is vibrant and on an upwards trajectory.
“In recent years garden centres have become much more than places just to buy plants, evolving to become wider leisure and retail destinations with play centres for children,restaurants and other activities designed to improve the shopping experience.
“These attractive consumer fundamentals with multiple income streams mean the market is likely to be resilient to headwinds experienced by the high street.
“The sale of Wyevale Garden Centres presents a unique opportunity for a wide range of buyers from financial institutions, existing garden centre operators, independent business people and entrepreneurs to buy well-invested local garden centres.”