Clayton Dubilier & Rice To Acquire Significant Stake in Leading UK Variety Retailer, B&M Retail

  Clayton Dubilier & Rice To Acquire Significant Stake in Leading UK Variety
                             Retailer, B&M Retail

PR Newswire

LONDON and NEW YORK, Dec. 3, 2012

LONDON and NEW YORK, Dec. 3, 2012 /PRNewswire/ -- Clayton, Dubilier & Rice,
LLC ("CD&R") and B&M Retail Ltd ("B&M" or the "Company") today announced that
funds managed by CD&R have agreed to acquire a significant stake in the parent
company of B&M. Terms were not disclosed.

B&M, owned by the Arora family, is one of the UK's leading discount retailers
with stores situated in the north of England, Scotland, Northern Ireland and
Wales. B&M will continue to be managed by its existing management team. Since
its acquisition in 2005, the business has grown rapidly to over 300 stores,
with sales in excess of £1 billion and employing over 10,000 people. Its
stores attract over two million customers per week with a value offer of food
and non-food products.

"B&M is a fantastic retail format in the growing discount sector," said David
Novak, a Partner at CD&R. "We are pleased to have the opportunity to partner
with the management team to accelerate the growth of the business by widening
its market presence outside of the UK, and continue to build the B&M brand. We
believe the value based general merchandise retail model could have
significant appeal in overseas markets."

Simon, Bobby and Robin Arora, owners of B&M Retail, commented: "We are
delighted to have the opportunity to partner with CD&R. We are proud of the
success we have had with B&M since acquiring it in 2005, but recognise that we
need a partner to bring the expertise to ensure the business fulfils its
overseas potential. CD&R has very relevant retail sector experience and a
strong track record of working in partnership with management teams to
successfully grow businesses across different territories."

Don Gogel, Chairman and CEO of CD&R commented: "The Aroras are exceptional
entrepreneurs who have done a great job building a business that is trusted
and supported by loyal customers. B&M has excellent opportunities for growth
and we look forward to working with them to help the Company realize its

Sir Terry Leahy, a senior operating adviser at CD&R, will serve as Chairman.
He was previously the chief executive of Tesco plc. He will be joined on the
board by Vindi Banga, the former President of Foods, Home and Personal Care
and member of the Unilever plc Executive Board. Marco Herbst and David Novak
of CD&R will also join the Board.

CD&R was advised by Bank of America Merrill Lynch, Clifford Chance, Debevoise
& Plimpton, Ernst & Young and Bain & Co. B&M was advised by Rothschild, Allen
& Overy, PWC and OC&C.

About B&M
Established in 1976, B&M Retail Ltd trades from stores across the UK. B&M
sells top branded products at low prices to customers across the UK and
Northern Ireland.

B&M's first store was in Blackpool, Lancashire, and has grown to over 300
stores and employs over 10,000 staff, with its headquarters in Liverpool.

About Clayton, Dubilier & Rice
Founded in 1978, Clayton, Dubilier & Rice is a private equity firm with an
investment strategy predicated on producing financial returns through building
stronger, more profitable businesses. Since inception, CD&R has managed the
investment of over $18 billion in 54 U.S. and European businesses with an
aggregate transaction value of more than $80 billion. For more information,
please visit

         Thomas C. Franco
Contact: +1 (212) 407 5225
         Daniel G. Jacobs
         +1 (212) 407 5218
         Anthony Silverman
         +44 (20) 3370 0013

SOURCE Clayton, Dubilier & Rice, LLC

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