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.