Online garden retailer, Primrose, has been acquired by Rockpool Investments through a management buyout. Primrose sells a range of over 10,000 garden and outdoor leisure items.

Providing loan finance and equity of £3m to £12m, Rockpool has previously backed Hartley Botanic, the greenhouse manufacturer based in Lancashire. The deal has also been part-financed by OakNorth through senior loans and a revolving credit facility totalling £6.5m.

Primrose will use the support from Rockpool to expand its product range whilst investing in its website and looking at expansion and growth in European markets.

Mark Pearson, former head of garden retailers Gardman Group and Solus Garden & Leisure has been appointed as Primrose’s new chief executive as part of the deal.

Rockpool partner Darran Green said online sales of garden products account for around £650m of overall UK garden retail services, marking a 13 per cent share, and are expected to increase to £840m by 2020.

“Primrose is in a prime position to take advantage of this with a dedicated and growing customer base, solid partner and supplier relationships, and a market-leading product range,” he added.