B&M attracts private equity bids
The private equity firms Apax and BC Partners have submitted first-round bids for B&M Bargains, the discount retailer that is up for sale for £850m.
The brothers Simon, Bobby and Robin Arora want to sell a significant stake in B&M, which has 290 stores, and hired advisers at Rothschild to run a process in September. Apax and BC Partners are among a number of other private equity firms that lodged bids for the retailer this week.
The Arora brothers bought B&M in 2005, when it had fewer than 20 stores, and have grown the chain rapidly to turn it into a discount powerhouse that sells general merchandise, such as toys, food and drink. The retailer employs over 10,000 staff and attracts more than 2m customers a week.
B&M is on track to deliver underlying profits of £90m this financial year, on sales of more than £1bn.
Rothschild, Apax and BC Partners declined to comment.
- 1 President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
- 2 The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
- 3 Stoke-on-Trent becomes first British city to be classified as 'disaster resilient' by the United Nations
- 4 Sir Winston Churchill’s family begged him not to convert to Islam, letter reveals
- 5 UK weather: 'Coldest night of the year' tonight as freezing temperatures plummet to -10C
President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
Exclusive: Abusers using spyware apps to monitor partners reaches 'epidemic proportions'
Stoke-on-Trent becomes first British city to be classified as 'disaster resilient' by the United Nations
Sir Winston Churchill’s family begged him not to convert to Islam, letter reveals
AirAsia flight QZ8501 missing: Search for plane carrying 162 passengers from Indonesia to Singapore suspended overnight
Millions of Britons struggling to feed themselves and facing malnourishment
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Nigel Farage: Ukip leader named 'Briton of the year' by The Times
Immigrants make UK racist, says Ukip councillor Trevor Shonk
iJobs Money & Business
Not specified: Selby Jennings: VP/SVP Credit Quant Top tier investment bank i...
Not specified: Selby Jennings: Quantitative Research | Global Equity | New Yor...
Not specified: Selby Jennings: SVP Model Validation This top tiered investment...
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...