High street giant offers £85m for rival
Mothercare has disclosed that it is in talks over a£85 million offer for the Early Learning Centre.

The news confirms media speculation that Mothercare might be poised to stage a takeover of its rival in the specialist mothers and children market. No other details have been provided by the retailer, which said that a announcement would be made in due course.

The Early Learning Centre is owned by Chelsea Stores and was originally bought for£62 million in 2004 by Eagle Retail Investments, a consortium including entrepreneur Tim Waterstone, private equity firm Rhone Capital and Publisher DC Thompson.

Mothercare has more than 500 stores in the UK and overseas. More than 60 per cent of its portfolio is offshore. It posted profits of£13m in its latest financial year.

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