Latest investment sees Hunter's influence grow

Published on Tuesday 13 February 2007 12:04

SERIAL Scottish investor Sir Tom Hunter today bagged another gardening sector deal when the board of garden-centre chain Blooms of Bressingham accepted a £30.2 million takeover offer from his West Coast Capital (WCC) group.

The deal will be steered by WCC Floris, a consortium including TBH Trading, Baugur-owned BG Equity, Uberior - a subsidiary of HBoS, Prestbury, and LxB SmallCo.

While the deal for the Gloucester-based firm still needs shareholder approval, it adds to Sir Tom's influence in the rapidly consolidating UK gardening sector, where he already owns rival Wyevale and an eight per cent stake in Lasswade-based Dobbies.

It is thought Sir Tom is aiming to build the UK's biggest online gardening presence to tap into the growing army of "silver surfers", with time and money to spend on hobbies such as gardening.

Charles Good, chairman of Blooms, said : "The garden centre sector is going through a period of accelerating change where there are clear benefits from joining forces.

"The board has given careful consideration to WCC Floris' cash offer and believes it represents a good opportunity for the Blooms business."

Paul Davidson, director of WCC Floris and partner in WCC, said: "Blooms is a particularly attractive business in the sector and there are obvious cost and revenue synergies with the Wyevale business as well as with those of the partners in WCC Floris."