LONDON, June 26 (Reuters) - L1 Retail has agreed to buy Holland & Barrett from The Nature’s Bounty Co. and The Carlyle Group for 1.77 billion pounds ($2.26 billion), the companies said in a statement.
Russian billionaire Mikhail Fridman’s L1 Retail is expected to close the transaction by September 2017 subject to customary regulatory approvals.
The deal for the health and wellness chain was first reported by the Financial Times on Sunday.
“We believe that the company is well positioned to benefit from structural growth in the growing 10 billion pound health and wellness market and has multiple levers for long term growth and value creation,” said L1 Retail Managing Partner Stephen DuCharme.
Carlyle was advised by Goldman Sachs, Houlihan Lokey, UBS, PWC, Latham Watkins and OC&C. ($1 = 0.7846 pounds) (Reporting by Maiya Keidan; editing by Simon Jessop)