Business World

Wednesday 23 August 2017

Health store chain Holland & Barrett sold for £1.7bn (€1.9bn)

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Ellie Donnelly

Letter One Retail has agreed to buy Holland & Barrett from The Nature's Bounty and The Carlyle Group for £1.7bn.

L1 Retail, which was founded by Russian billionaire Mikhail Fridman is expected to complete the transaction by September 2017, subject to regulatory approvals.

The deal was initially reported by the Financial Times on Sunday.

Originally founded in 1870, Holland & Barrett currently has over 1,300 stores in sixteen countries, including 52 in Ireland.

In 2016 the Irish arm of Holland & Barrett recorded earnings before interest, expenses, tax, depreciation and amortisation (ebitda) totalled €4.3m compared to €4.8m in 2015.

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