Deals
Russia Tycoon to Buy Holland & Barrett for $2.3 Billion
- Fridman acquires health and wellness retailer from Carlyle
- Deal is first retail foray by Fridman’s L1 investment vehicle
Mikhail Fridman.
Photographer: Riccardo Lugermad/LetteroneThis article is for subscribers only.
Russian billionaire Mikhail Fridman’s investment vehicle agreed to buy Holland & Barrett for about 1.8 billion pounds ($2.3 billion), gaining one of Europe’s largest health-food retail chains in its first retailing acquisition.
Fridman’s L1 Retail will acquire the business from private equity owner Carlyle Group LP, according to a statement Monday. For Carlyle, the sale marks a partial exit from Holland & Barrett owner Nature’s Bounty Co., which it acquired in 2010 for $3.8 billion including debt.