Notcutts completes sale of nursery arm
Published: 30 August 2007
Family business Notcutts has sold its nurseries division to two former directors to concentrate on retailing.
John Lord and John Kirkum, previously managing director and finance director respectively, have bought the business following a strategic review, which highlighted the benefits for Notcutts to focus on its retail activities.
The sale was completed on August 24.
William Notcutt, deputy chairman said the sale would benefit both sides as the nursery business would continue to supply the garden centre while freeing Notcutts from the 'business of plant production and wholesale sales'.
He continued: "With today's highly competitive environment I am sure there are many challenges ahead and we are in a stronger position than ever before to meet them."
Notcutts has 13 centres, with Tunbridge Wells the latest opening in November 2006.
In 2004-05 Nottcus' sales were £39m.