A PYMNTS Company

UK: Poundworld sells majority stake to US investors

By  |  May 14, 2015

Britain’s Poundworld, a rival discount chain to Poundland, has sold a majority stake to U.S. private equity firm TPG , securing new funds to speed-up store expansion.

No financial terms of the deal were disclosed, but local media reports valued TPG’s purchase at 150 million pounds.

TPG will inject new equity capital to fund a quicker store rollout and invest in new distribution facilities, Poundworld said.

“I began this business as a market trader and we now have millions of customers from all corners of the nation and all walks of life. Still, there is so much more for us to achieve,” Edwards said on Thursday.

 

Full content: The Telegraph

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