Portsmouth-based cycling and trisports retailer
Wiggle has been acquired by private equity firm
Bridgepoint for £180 million. Wiggle was previously owned by
Isis Private Equity, which invested £12 million in the
business in 2006. In 2009-10, Wiggle had sales of approximately
£55 million and continues to grow in 2011: its website is
translated into nine languages, accepts sales in 15 different
currencies, and is accessible to 88 countries.
The Peterborough Evening Telegraph writes that
Ideal Shopping Direct, the TV-shopping and
online retailer, is expected to announce turnover of £140
million in 2011, up 15 percent on last year. Profits will be up
too, from last year’s £4.7 million.
According to the Financial Times, Sports
Direct has offered to enter into a joint venture with
struggling Blacks Leisure Group, which put
itself up for sale yesterday. Sports Direct, which holds a 21
percent stake in Blacks, has proposed sharing its warehousing,
supply chain and IT capabilities as an alternative to an equity
raising.
Operating profit for the third quarter is in line with
expectations at £25.8 million, said electronic components
distributor Premier Farnell in its latest
financial statement. Operating profit for the first nine months
of the year is up by 2.9 percent on last year, while adjusted
revenue for the nine months is up 2.7 percent to £739.7
million.
Trade-in website MusicMagpie has launched a
Facebook store allowing users to get cash for their unwanted CDs,
DVDs and games on the social network. The Facebook store follows
the launch of an iPhone app earlier this year.
Jamie Allan, head of media, and Steve Sowden, client services
director, have completed a management buyout of marketing agency
Intermarketing Group supported by creative
directors Paul Mountford and Michael Harris and group finance
director Andy Watson. The new Intermarketing board also includes
Glenn Patterson as chairman and Chris Henry as new business
director for liaison. There is also a new management team in
place which includes Nickii Gray, Scott Gordon, James Henry,
Sarah Wiles, Simon Jones and Paul Philips. Intermarketing’s
clients include Tie Rack, Adidas and
Arcadia.
In addition to Playstation 3, the LoveFilm
service is now available to Xbox users. In what is a major update
for the console, subscribers can now stream films directly to
their Xbox and watch them through their TV.
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