Kester Capital has backed the MBO of YouGarden, one of the UK’s biggest multi-channel home shopping retailer of horticultural products. The business operates through its direct-to-consumer brand YouGarden as well as acting as a gardening category manager for a number of high profile retailers including Amazon, Ideal World TV Shopping, Groupon and Shop Direct.
Headquartered in Lincolnshire, YouGarden is a fast-growing business that has disrupted the live product subsector of the UK gardening market through its multi-channel offering that meets consumer demand for choice, speed and flexibility of delivery of live plants. The business has monetised a diverse range of routes to market, selling direct to consumers via its own branded sales channels including online (via its two websites), members club and traditional home shopping sales channels, with a growing customer base of over 800,000.
YouGarden was founded by entrepreneur and lifelong gardener Peter McDermott (Managing Director) and in the last twelve months has reached revenues of over £17 million. Peter and the management team have delivered organic growth since the business was founded in 2012, with revenues increasing by over 35% p.a. in each of the last five years.
The Kester Capital team have known Peter and the business since it was founded and provided seed capital in 2012.
Cameron Crockett, Managing Partner of Kester Capital, said: “YouGarden is a well-diversified and highly scalable business delivering significant growth year on year. Led by a best-in-class management team with a unique skillset of deep horticultural knowledge, live plant supply chain management and strong marketing and customer service skills, the business has succeeded through its focus on delivering the very best to its customers. We are delighted to be backing YouGarden, which has continually taken market share from the traditional garden centre and legacy home shopping retailers.”
Peter McDermott, Managing Director of YouGarden said: “Our partnership with Kester Capital gives us the extra firepower and support to accelerate the company’s expansion plans. The team at Kester really understands our business and have a long track record of supporting growth in UK businesses. We are excited to work with them in order to take YouGarden to the next level.”
For more information:
Kester Capital
www.kestercapital.com
YouGarden
www.yougarden.com