Leading digital home retailer acquired by premium British brand Joules in £12.5 million deal
BDB Pitmans has acted in the sale of Oxfordshire-based The Garden Trading Company Limited (Garden Trading) to the Joules Group plc (Joules).
Joules, the premium British lifestyle brand, has announced the acquisition of the digital home and garden retailer in a deal worth up to £12.5 million. Garden Trading has been a leading seller on the ‘Friends of Joules’ digital marketplace since its launch in 2019.
For the year to 30 November 2020, Garden Trading delivered revenue of £16.8 million, up more than 40% on the prior year, and a profit before tax of £2 million. Online sales grew by 36% in 2020, whilst retail trends suggest an increased spend on homeware, furniture and garden products into 2021.
Joules has said that it intends to continue to develop and grow the Garden Trading brand and product range and sees an opportunity to leverage the Garden Trading design and sourcing strengths to develop a broader range of Joules-branded home, garden and outdoor products.
John Hutchinson, Corporate Partner at BDB Pitmans, who led the team on the transaction, remarks:
‘Most of us have spent more time at home than we would have liked over the last year. The growth of online retail as a result of the pandemic, including home, garden and outdoor, has generated increased market activity in this sector.
We are delighted to have contributed by facilitating the successful sale of Garden Trading to Joules. The two are closely aligned and share many similarities in terms of their brand, culture and values. We wish them all the success in the future.’
Jon Holloway, on behalf of Garden Trading, commenting on the work of the BDB Pitmans team, said: