Advent sells Poundland to Warburg Pincus
Global Private equity firm Advent International has divested its stake in single price retailer Poundland to private equity firm Warburg Pincus, in a deal reportedly worth £200m.
Based in Willenhall, West Midlands, Poundland was founded in 1990 as a general merchandise retailer.
The company offers branded and own-label products across a broad range of categories, including health and beauty, household products, food, occasions and entertainment, all at the single price point of £1.
The business currently serves almost 3 million customers a week and is forecast to generate revenues in excess of £700m in 2011.
Advent acquired Poundland in June 2002 having led a management buyout.
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