Wyevale completes its programme of disposals
Wyevale Garden Centres has announced that it has sold its remaining trading business to British Garden Centres. Since it began the sale process in May 2018, WGC has sold 145 garden centres in 57 different transactions, with over 90 per cent continuing to trade as garden centres and over 95 per cent of its garden centres staff transferring to employment with the respective new owners.
Justin King, executive chairman of Wyevale Garden Centres said: "In May 2018 we said it was the right time to launch a sales process for WGC following a large number of improvements made to the business under the new leadership team, resulting in our centres looking and performing better than ever. Our focus was on seeking new long-term owners for the centres and running the process in a way which protected and supported all our stakeholders, including WGC colleagues, while maximising returns for our shareholder. I am delighted that sixteen months on we have succeeded in that goal with the vast majority of centres and colleagues remaining within the sector and customers now benefiting from a wider choice of garden centre operators."
King added: "I would particularly like to thank Anthony Jones, our COO, and his team for managing a complex disposal process with skill and dedication whilst maintaing a forensic focus on operations and trading, which has enabled a strong performance during key periods."
The final sale will now trigger an orderly closure process over the coming months, including finalising all payments and obligation due to WGC's key stakeholders, all of which will be met in full.