UK health food retailer Holland & Barrett has been acquired for £1.8 billion by a Russian billionaire.
L1 Retail, a fund controlled by Mikhail Fridman, is buying the chain from US private equity firm Carlyle.
“Holland & Barrett is a clear market leader in the UK health and wellness retail market, with attractive growth positions in other European and international markets,” said L1 Retail managing partner Stephan DuCharme.
“We believe that the company is well positioned to benefit from structural growth in the growing £10bn health and wellness market and has multiple levers for long-term growth and value creation.”
Carlyle acquired Nuneaton-based Holland & Barrett as part of its $3.8bn (£3bn) purchase in 2010 of US firm Nature’s Bounty.
The chain, which has more than 1,300 stores worldwide, is expected to change hands in September.
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