BGF invests £4m in online garden products retailer

Upon conclusion of the transaction, BGF will hold a minority stake in the company. The fund will provide working capital and support Primrose in pursuing its growth trajectory.

The deal was initiated by Grant Thornton and RBS, which introduced BGF to the company.

Company
Primrose is a Reading-based online retailer that focuses exclusively on garden products. The company has reportedly been growing at a rate of 40% per annum since 2003, amounting to a current £15-20m turnover.

People
Steve Richards will join the company as non-executive chairman. BGF's team included investment director James Austin and regional director for South West England Paul Oldham. Primrose is managed and partly owned by Ian Charles and Erica Robb.

Advisers
Equity – Osborne Clarke (Legal); Grant Thornton (Corporate finance).
Company - Shoosmiths (Legal). 

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• Topics
• UK / Ireland
• Expansion
• Consumer
• BGF (Business Growth Fund)
• United Kingdom