PARIS, France: Investment company L-GAM today announced a definitive agreement under which it will acquire all of the shares of French garden centre chain Jardiland. The new owners have launched a growth strategy that sets out the future opportunities and trends for the French garden centre group and will help to reinvent the shopping experience for customers, whether online or in the store.
Mr Thierry Sonalier, the company’s newly-appointed president believes believes that this transaction will increase Jardiland’s growth potential in France and abroad.
Following an abnormally cold spring in 2013 with a catastrophic impact on consumer demand and garden centre sales, Jardiland wants to make itself less weather dependent and become more of a destination and do what other garden centres don’t. “Jardiland is a sleepy beauty who is about to be woken up by new management team and a much more customer-focused business,” said Sonalier.
Founded in October 2013 by Ferdinando Grimaldi, Yves Alexandre and Felipe Merry del Val L-GAM, is an investment company established in partnership with the Princely Family of Liechtenstein. It differentiates itself on the marketplace with its long-term investment focus and its flexible mandate to provide capital solutions. L-GAM will be targeting investment opportunities in non-listed companies throughout Europe. It will invest in a variety of private equity, distressed and special opportunities across a broad spectrum of industries, including industrial manufacturing, business services, and consumer and retail. The primary targets are long-term growth industrial projects, buy and builds, corporate carve-outs, family transitions and recapitalisations.
Founded in 1973, Jardiland has 214 centres across France and Spain and employs 3000 staff (6000 when franchises included) and the company’s consolidated turnover for 2013 was €720 million.