UK: Private-equity firm Warburg Pincus "buys Poundland"
By: just-food.com | 4 May 2010
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Poundland owner Advent has been reviewing the business since March |
Poundland, the UK retailer, has a new owner after private-equity firm Warburg Pincus reportedly agreed to acquire the business.
Warburg Pincus, which also holds a stake in the UK's largest food maker, Premier Foods plc, will be the latest private-equity owner of Poundland.
In March, private-equity firm Advent International appointed advisers to review Poundland's business, which it acquired in 2002.
Discount giants Aldi, Lidl and Netto have seen the early buoyant sales growth they enjoyed in late 2008 and early 2009 fade as the UK's largest supermarkets fought hard on price.
However, Poundland has benefited from the demise of Woolworths plc and plans to expand its 250-strong store estate this year.
Sectors: Mergers & acquisitions, Retail
Companies: Poundland, Premier Foods plc, Aldi, Lidl, Netto
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