Sanders Garden World 'could be taken over by Tesco'
Garden World near Burnham-On-Sea could soon be sold to supermarket
giant Tesco as part of a £300m nationwide deal, according
national press reports this week.
The Times newspaper has this week reported that the UKs
biggest garden centre firm, The Garden Centre Group, which owns
131 garden centres including Brent Knoll's Sanders Garden World,
is to be sold by taxpayer-backed Lloyds Banking Group, which took
control of the business two years ago.
It has been reported that Tesco is one of a number of interested
potential purchasers who could bid £300 million for the
Tesco took a controlling stake in Dobbies, another big garden
chain, in 2008. Dobbies has previously said it has "ambitious
growth plans to be a £1 billion business with 100 stores
in 10 years."
It is reported that Lloyds hopes to complete the sale by the
end of the year. The bank is 41% owned by taxpayers and has recently
increased its efforts to clean up its balance sheet by offloading
The Garden Centre Group is comfortably the biggest garden centre
operator in the UK and employs 4,500 staff.