Caudwell empire is inviting offers

Mobile phone entrepreneur John Caudwell has this morning confirmed the Caudwell Group has been put up for sale. Caudwell has invited offers for the entire empire, which includes mobile phone retailer Phones 4U.

The group said today it had received many approaches from buyers interested in acquiring all or parts of the business, but has decided to put the entire group up for sale.

Caudwell Group Chairman and chief executive John Caudwell said today: ‘I strongly believe the group has enormous potential for further growth in the UK and internationally, led by the management teams built up over the years. The hands-on contribution required from me has become more limited and I have, as a result, decided to invite offers for the group.’

Founded in 1987, the group has a combined annual turnover of more than £2 billion and employs 8,500 people.