View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
May 7, 2013

UK: Retailer Poundland silent over sale reports

UK discount retailer Poundland has declined to comment on reports the group is the subject of a potential sale by owner Warburg Pincus.

UK discount retailer Poundland has declined to comment on reports the group is the subject of a potential sale by owner Warburg Pincus.

The US venture capital firm is understood to be mulling plans to offload the budget retailer in a deal worth around GBP600m (US$931.4m). According to The Scotsman, Warburg is planning either an auction or flotation of the business, which it acquired in 2010.

The 450-store group was acquired from fellow private-equity outfit Advent International for GBP200m

For the 53 weeks to 1 April 2012, Poundland booked turnover of GBP780m, up 21.6% on the prior 52-week period. Like-for-like sales increased 2.3%. The retailer said its underlying EBITDA was up 26.5% at GBP40.1m. At the end of that financial year, Poundlandhad 389 stores.

The retailer, which appointed former Tesco executive Andrew Higginson as chairman last year, is understood to have plans to increase its number of stores to 1,000 over the next five to ten years, The Scotsman said. Poundland also has over 20 stores in Ireland under the Dealz banner. 

A spokesperson for Poundland declined to comment on the reports, while Warburg Pincus did not return a request for comment.

Related Companies

Topics in this article: , ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Food