L1 Retail, the retail investment fund backed by Russian billionaire Mikhail Fridman, has bought Holland & Barrett for £1.8bn.
The health and wellness retail chain, which has more than 1,150 shops and an online business, was acquired from Nature’s Bounty Co and Carlyle Group.
The deal is expected to close by September 2017, subject to regulatory approvals.
“We believe that the company is well positioned to benefit from structural growth in the growing £10bn health and wellness market and has multiple levers for long-term growth and value creation,” said L1 retail managing partner Stephen DuCharme.
Carlyle was advised by Goldman Sachs, Houlihan Lokey, UBS, PwC, Latham Watkins and OC&C.
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