Published on 26 - March - 2012
Bidders battle it out for Robert DyasReports in the press suggest at least four major firms are in talks to buy the high street chain, including value retailer Wilkinson, two unknown trade buyers and a private equity company.
Last year Robert Dyas confirmed that its two key shareholders, Allied Irish and Lloyds Banking Group were in talks to sell the business but that a deal was unlikely to take place until 2012. According to reports in the press, the banks are again inviting offers and bidders were submitting second-round offers last week.
While unable to comment on any one bidder, a spokesperson for Robert Dyas told DIY Week: "The sales process is going well and there has been interest from a lot of potential purchasers. They are talking seriously with those who would like to develop the Robert Dyas business."
He also confirmed that a sale was likely to complete before the summer.
Wilkinson said it would not comment on any speculation in the press but did not confirm or deny reports that it is one of the main bidders for the Robert Dyas business.
Robert Dyas operates 100 stores across the south of England and reported a turnover of £104m for the year ended March 26, 2011, down 4% on the previous year. Gross profit also dropped 5% to £43m. However, like-for-like sales figures have picked up since Christmas, said the spokesperson and are now 3% ahead.
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