Julian Graves to be bought by Holland & Barrett
NBTY Europe Limited, the parent company of health food firm Holland & Barrett, has acquired Black Country retailer Julian Graves from Icelandic retail investor Baugur.
Peter Aldis, managing director of the Holland & Barrett Group, said: "This is an exciting milestone for our company, and fantastic news for our business as we have always identified Julian Graves as a key competitor.
"It has therefore continued to be an acquisition target. This will now give us more opportunities to achieve our expansion plans within the UK & Europe.”
Holland & Barrett has 544 stores in the UK and Ireland. The acquisition of Julian Graves adds a store network of more than 345 outlets nationwide specialising in natural food and health products.
During the summer it was reported that the man who founded Julian Graves in 1984 was looking to buy back the Kingswinford-based firm from Baugur.
Julian Graves chief executive Nick Shutts was hoping to lead a management buyout to take control of the company, which employs 1,644 people. About 150 staff based at its headquarters on the Pensnett Estate.
Mr Shutts told The Birmingham Post in July: “My management team and I would be delighted to reacquire the business."
