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Last Updated: Friday, 21 April 2006, 06:54 GMT 07:54 UK
Garden centre group accepts bid
Gardener Charlie Dimmock
Charlie Dimmock does promotional work for Wyevale
Wyevale Garden Centres has been agreed to be taken over by WCC Hortis, a consortium including the acquisitive Icelandic investment firm Baugur.

The 555p pence per share offer values Hereford-based Wyevale, the UK's largest garden centre group, at 311m.

It is just the latest in a string of UK investments by Baugur, whose British interests include Whittard of Chelsea and a 40% stake in Woolworth's.

The takeover consortium also includes retail entrepreneur Sir Tom Hunter.

Wyevale has more than 120 outlets across the country.

The deal follows after months of takeover interest surrounding Wyevale, sparked by an unsuccessful approach by private equity firm Cinven.

Sir Tom's investment group West Coast Capital also purchased almost 29% of Wyevale's shares earlier this year.


SEE ALSO:
Baugur raises stake in Woolworths
26 Mar 06 |  Business
Possible job cuts at garden chain
09 Jan 06 |  Hereford/Worcs
Baugur bid for Whittard tea firm
14 Dec 05 |  Business
Baugur adds to fashion portfolio
29 Jul 05 |  Business


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