L1 Retail £1.8 billion acquisition of Holland & Barrett

Overview:

• L1 Retail has acquired UK retailer Holland & Barrett for £1.8 billion from Carlyle.
• Holland & Barrett is a UK based healthcare products retailer with over 9000 product lines and 1150 stores across 16 countries.
• L1 Retail is an investment vehicle owned by Russian Billionaire Mikhail Fridman. It is part of LetterOne, an investment vehicle.
• The deal represents a partial exit by Carlyle from Holland & Barrett's owner Nature's Bounty. It acquired the company for $3.8 billion in 2010.
• The deal is the second significant UK retail acquisition in a month following the sale of The Body Shop.
• Carlyle was advised by Goldman Sachs.

Sam Duke - Editor