Retail news round-up: L1 Retail to buy Holland & Barrett for £1.8bn; Nisa members unhappy with Sainsbury's takeover; and Simggle plans expansion in the UK.
L1 Retail to buy Holland & Barrett for £1.8bn
Mikhail Fridman’s investment fund L1 Retail is set to buy health food retailer Holland & Barrett for £1.8bn, the Financial Times reported.
L1 Retail will take control of the chain from its private equity owner Carlyle Group.
Carlyle bought Nature's Bounty, the owner of Holland & Barrett, in 2010 for $3bn.
Holland & Barrett's chief executive is expected to stay on at the company.
Nisa members' discontent with Sainsbury’s takeover
Nisa members, who own shares in the business, are attempting to block a potential deal with Sainsbury’s, The Telegraph reported.
Members, who want to remain mutual, have accused Nisa chief executive Nick Reed of selling the business short.
Nisa members are being given the option to either remain fully independent, having own-brand food products, or stock Sainsbury’s products.
The supermarket chain is also planning to give members staggered payments over three years if they remain with Nisa.
Smiggle plans UK store expansion amid surge in sales
Smiggle is planning to expand in the UK by opening multiple stores amid growth in sales, The Belfast Telegraph reported.
Smiggle managing director John Cheston said: "We are elated with business in the UK, and our intention was to open 200 stores by 2019, and that's still the aim, but we might increase that.”
The Australian stationery brand reported £29m in sales last year in the UK.
The company aims to achieve £125m revenue in 2019.