Wyevale has agreed to sell its eight largest garden centres to Blue Diamond.
The transaction comes after Wyevale parent company Terra Firma appointed property advisors Christie & Co to manage the sales process of its 145 garden centres.
The Wyevale centres that have been sold include those in Bicester, Cardiff and Cadbury.
Blue Diamond said it planned to invest £16 million in remodelling the newly-acquired stores over the next three years to make them more like its Redfields Garden & Living Centre in Hampshire and its Blue Diamond Garden and Home store near Nottingham.
Blue Diamond managing director Alan Roper said the company was “delighted” by the acquisition.
“We look forward to working with our new colleagues across the centres and welcoming them into the Blue Diamond family,” he said.
Discussions concerning the sale to Blue Diamond began before Christie & Co were appointed to manage the sale of all or part of the Wyevale Garden centre business.
In separate transactions, Wyevale has also agreed to the sale of two centres in Alfold and Binfield to Q Developments and Spitfire Bespoke Homes respectively.
“We continue to explore all opportunities on non-core centres as part of the ongoing sale process,” Wyevale chief financial officer Anthony Jones said.
“We are very grateful for the dedication and commitment of the teams at these centres.
As the UK’s biggest garden centre chain, Wyevale recently revealed it had received a number of offers for all or part of its remaining business from national, regional and financial operators, as well as local business people.