Holland & Barrett to be acquired by L1 Retail for £1.77 billion

The £1.77 billion transaction is expected to close by September 2017 subject to regulatory approvals.

Currently part of Carlyle owned The Nature’s Bounty Co., Holland & Barrett was originally founded in 1870 and now operates stores in more than 1,150 locations worldwide and employs 4,200 staff.

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With headquarters in Nuneaton, the company’s annual revenues in 2016 exceeded £610 million to mark 32 consecutive quarters of like-for-like growth. The increase was driven by investment in new store openings, the company’s online sales platform and marketing campaigns.

International expansion across Scandinavia and in Holland & Barrett’s partnerships with Tesco in the UK, Apollo Hospital Group in India, and AS Watson in Hong Kong, has helped to increase the company’s international operations footprint to 16 countries.

Commenting on the acquisition, Peter Aldis, chief executive of Holland & Barrett, said: “We…