Blue Diamond has announced a significant inward investment from Caledonia Investments, an initial £60m and a framework for £40m of follow-on capital over the next five years.
The majority of the initial funding, £40m, and the potential follow-on capital will be used to support Blue Diamond’s expansion and investment plans. £20m of the initial investment will be used to facilitate shareholder liquidity. Caledonia will have a 16% minority interest following completion.
Blue Diamond is the largest garden centre operator in the UK and Channel Islands, with 54 sites at present. The group’s core proposition is based on large-format garden centres positioned as retail destinations. Its strategy is focused on estate expansion and broadening its product offer. With respect to the latter, the company recently signed a three-year exclusive agreement with Diddly Squat Farm to create and sell a range of co-branded gardening products.
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