// Wyevale sells Podington store to Cherry Lane Garden Centre
// Transaction to be complete by mid-August
// The sale was done as part of Wyevale’s ongoing scheme to slim down its estate
Wyevale has sold its Podington garden centre to a new owner as it continues with its scheme to slim down its retail estate.
Wyevalle’s Podington store will now be operated by Cherry Lane Garden Centre and the transaction is expected to complete by the middle of August.
Wyevale will operate the Podington branch until the date of the handover to Cherry Lane.
The latter also acquired Wyevale’s Barnett Hill garden centre in March this year.
The news comes a week after Wyevale announced the sale of 11 other garden centres in its portfolio to four other gardening and DIY retailers.
Including the Podington store, Wyevale has now offloaded a total of 97 of its stores to various businesses – mostly gardening retailers – since it first announced plans to do so in May last year, after a huge investment scheme saw it return to profitability.
“We are pleased to have agreed the sale of Podington Garden Centre to a well-established garden centre operator,” Wyevale chief operating officer Anthony Jones said.
“I would like to thank our colleagues for their commitment and contribution since joining the group in 2014 and wish them all the best for the future.”
Nick Rubins, chief executive of QD Group which owns Cherry Lane, said: “The acquisition of Podington Garden Centre is another step in the growth and success of Cherry Lane.
“We are a family-run business and are very pleased to welcome the team from Wyevale Garden Centres and are looking forward to sharing with our customers our great value, excellent quality and ever-changing spectacular new deals.”