Retail news round-up on August 1, 2014: Turnaround firms circle Homebase, Sir Terry Leahy invests in tech start-up, Office eyes flotation and more.
Wave of turnaround investors circle for Homebase takeover
Rival turnaround funds including Apollo and OpCapita are believed to be working on acquisition plans for the troubled DIY chain Homebase, the Telegraph reported. Their interest has been intensified by the suggestion that the parent company Home Retail Group is looking to offload the struggling home improvement business. An investment bank has yet to be hired to oversee any sales process.
Sir Terry Leahy invests in tech start-up launched by former SuperGroup exec
Former Tesco chief executive Sir Terry Leahy is investing in technology start-up Anatwine, the Telegraph reported. Leahy has joined the board of the tech firm, which aims to analyse sales data to assist retailers and brands generate near-perfect stock levels. The company was launched by former SuperGroup e-commerce director Chris Griffin, who departed at the end of April. Anatwine’s heavyweight board also includes chairman Bob Willett, the former Best Buy International chief executive.
Office eyes potential £300m stock market flotation
Shoe retailer Office’s private equity owner is looking to list the business on the stock exchange in a deal that could see it valued at £300m, the Express reported. Silverfleet Capital is understood to be close to appointing investment bank JP Morgan to manage an IPO in 2015. The company could join a tranche of retailers stepping out into public ownership.
Industrie looks to expand reach in UK
Australian menswear retailer Industrie is considering boosting its UK presence by opening up to 30 new outlets, the Express reported. The business is understood to have instructed property agents to scout for new locations.