FIRST AIRED: June 26, 2017

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

×

Transcript

00:00:01
>> One of Russia's richest men is making a move into the wellness business. Mikhail Fridman and his company, L1 Retail, have agreed to buy health food and supplements chain Holland and Barrett for $2.26 billion. The chain has over 1,300 shops in 16 countries. It was bought in 2010 by the US Carlyle Group as part of a $3.8 billion deal for Nature's Bounty Company.
00:00:25
Carlyle has hired Goldman Sachs to help it sell Nature's Bounty, but wants to sell Holland and Barrett separately. A spokesman for L1 said their investment comes with the health and wellness market growing significantly. The company say they're planning to create a board to help Holland and Barrett grow.
00:00:40
It's likely to include L1's advisory board and investment team, as well as some outside, non-executive directors. Tycoon Fridman's other investments include $200 million in Uber Technologies and a slice of UK North Sea Assets. L1 is expected to close the sale of the health store by September, subject to regulatory approvals.