June 25, 2017 / 9:42 PM / 2 years ago

Fridman's L1 Retail to buy Holland & Barrett for 1.8 billion pounds - source

FILE: Chairman of the supervisory board of Alfa Group consortium Mikhail Fridman attends a session during the Week of Russian Business, organized by the Russian Union of Industrialists and Entrepreneurs (RSPP), in Moscow, Russia March 16, 2017. REUTERS/Sergei Karpukhin

(Reuters) - Russian billionaire Mikhail Fridman’s fund L1 Retail has agreed to buy health food chain Holland & Barrett for about 1.8 billion pounds, according to a source familiar with the matter.

L1 Retail will take control of the chain from its private equity owners Carlyle Group (CG.O). The deal was first reported by the Financial Times.

Carlyle Group bought Nature’s Bounty, the owner of Holland & Barrett, in 2010 for $3.8 billion (£3 billion).

L1 Retail, Holland & Barrett, Carlyle Group and Nature’s Bounty were not immediately available to comment.

Reporting by Pamela Barbaglia and Parikshit Mishra; Editing by Bill Rigby

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