Primrose, a principally online retailer, which specialises in gardening products, sources most of its products from a network of Far East based suppliers. To year end October 2017, Primrose generated half of its £38 million sales direct from UK consumers, 25 per cent from European customers and the balance via intermediary websites. Investment firm Rockpool has backed a new management team in its buy out of the business led by former Gardman Group and Solus Garden & Leisure CEO Mark Pearson. The board has also been strengthened by the appointment of David Brock as non-executive chairman and Simon Baker as chief financial officer. Rockpool has previously invested in the UK outdoor products sector, backing the 2016 acquisition of Hartley Botanic, a manufacturer of premium British domestic greenhouses.
Mark Pearson, CEO or Primrose said: “This transaction marks an exciting opportunity to capitalise on Primrose’s existing position as the UK’s market leader in the online-only garden products sector, offering an unmatched product range and great prices. Rockpool recognised Primrose’s strengths as a high quality online retailer from the outset. My team and I look forward to working with investors to deliver the investment plan.”
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