Endless which acquired 172-store chain Bathstore two years ago has sold it to its management team, lead by former MFI chief executive Gary Favell, for an undisclosed sum. Endless acquired the Bathstore business, which was originally owned by builders’ merchant chain Wolseley, for £15 million and invested a further £11 million in its turnaround. Bathstore currently has annual sales of £115 million.
The deal has been bankrolled by US investor Warren Stephens via a family trust. Stephens is chairman of a major US investment house and is understood to be a billionaire. Endless was advised by Rothschild on the sale process.
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