Holland & Barrett’s parent company NBTY Europe has bought its high street competitor Julian Graves from Icelandic investor Baugur.

The acquisition has added 345 stores to Holland & Barrett’s portfolio, taking it to just under 1,000 stores. Holland & Barrett already has 544 stores in the UK and Ireland, plus 31 GNC stores in the UK and 71 De Tuinen stores in the Netherlands.

“This is an exciting milestone for our company and fantastic news for our business, as we have always identified Julian Graves as a key competitor. It has therefore continued to be an acquisition target,” said Holland & Barrett Group managing director Peter Aldis.

“The acquisition delivers synergies to the Holland & Barrett Group and ensures that through all of its brands, the group continues to be at the forefront of healthy retailing in Europe. This will now give us more opportunities to achieve our expansion plans within the UK and Europe.”