TV-shopping business Ideal Shopping Direct is to buy plants and
garden-equipment retailer Lead the Good Life (LTGL) for £5
million. LTGL, which operates GardenBargains.com, was founded by
Ideal’s nonexecutive chairman Paul Wright and nonexecutive
director Valerie Kaye along with Peter McDermott in February
2008. Following completion of the acquisition, McDermott will
stay with the business as a director of LTGL. In a statement,
Ideal Shopping Direct said that the acquired business
“complements the seasonality of Christmas trading”
and is a step toward multichannel retailing with less reliance on
?TV shopping. In its first period of trading-the 17 months to
30th June 2009-audited accounts show LTGL made a pretax profit of
£730,447 on turnover of £5.8 million.
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