Global investment firm and DTZ owner TPG has agreed a £150m deal to buy a majority stake in Poundworld.
Poundworld founder and chief executive Christopher Edwards Sr, chief procurement officer Christopher Edwards Jr and other senior executives will retain a substantial minority equity position in the company.
TPG has said it will inject new equity capital to fuel an accelerated store expansion program nationwide, facilitate investments in new distribution facilities and deploy best-in-class retail practices supported by advanced data analytics.
Chief executive and founder Christopher Edwards, said: “After 40 years of building this great company, I am very excited to have a partner like TPG to support Poundland’s next phase of growth.
“They bring with them an extensive and global body of experience in retailing that will help us to create the infrastructure and develop new capabilities to reach our very ambitious goals.”
