Terra Firma refinances Wyevale Garden Centres
A group of lenders including Hayfin, Barclays and Lloyds has provided a £141.5m debt package to refinance the existing facilities of Terra Firma-backed Wyevale Garden Centres.
The debt maturity profile has been extended as part of the agreement. DC Advisory advised on the process.
Terra Firm acquired the company, then known as The Garden Centre Group, from Lloyds in 2012 for £276m. It rebranded to its current name in July 2014.
Wyevale operates 150 garden centres in England and Wales. The group has three sources of income: the sale of gardening and associated retail products; on-site food and beverage outlets; and lease income from concession space let to third-party retailers.
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