The discount retailer B&M, which sells everything from homewares to food, has been put up for sale for £850m.
Just seven years ago the business was a loss-making 21-store chain with £65m of sales, according to HousewaresLive.net’s sister website diyweek.net.
It was then bought by brothers Simon, Bobby and Robin Arora, who have transformed it into a £1bn-turnover operation with 290 stores, growing at a rate of one a week, and which consistently raises annual profits by some 25%.
The Aroras have reportedly recruited financial advisor Rothschild to look at selling a significant stake in the company. A group of private equity investors have been invited for talks that could see them take majority ownership in the company.
B&M sells top branded products at bottom prices, its offer taking in everything from homewares, electrical, DIY and gardening to camping equipment, petcare, games, clothing and food – and in recent years the emphasis on the mix has swung from food to non-food.
The company, which operates under both the B&M Bargains and B&M Homestore fascias, added significantly to its estate in 2006 when it acquired the Glyn Webb DIY chain, and again in 2010 when it bought the Opus Homewares chain. It also bought some Focus and Woolworths stores after those companies collapsed.
Last year, B&Q was the only company that took on more space in out-of-town retail parks than B&M, Home Bargains and Poundworld.