Hillier Nurseries acquire Rosebourne Ltd
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Hillier Nurseries acquire Rosebourne Ltd
Amanda Brockwell led the team at Paris Smith who were delighted to have worked with Hillier Nurseries in its successful acquisition of Rosebourne Limited. Rosebourne has a portfolio of three garden and homeware centres in Solihull, Aldermaston and Andover. This deal further expands Hillier Nurseries’ growing chain of garden centres into new areas. Hillier now owns 22 garden centres, 10 of which have been acquired by the team at Paris Smith. Funding by way of a secured term loan and revolving credit facilities was provided by Santander Bank and involved the charging of two of the target sites and an existing site already owned by Hillier. This transaction involved strong co-ordination and team working on the project across the firm including corporate, commercial, property, banking, planning and employment specialisms and demonstrated the Firms’ strength in depth.
The acquisition involved a very large number of selling shareholders, option holders, warrant holders and specialist private equity investor, Puma Investments Limited. Given the large number of sellers, many of whom were remote EIS investors, W&I insurance was negotiated and put in place upon completion.
The deal progressed Hillier’s strategy to expand in the south and south west region. George Hillier said: “We are delighted to be able to add the Rosebourne business to our portfolio, The centres provide a fantastic customer experience in a wonderful setting”.