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Russian billionaire Mikhail Fridman's investment firm, L1 Retail, acquires health food retailer Holland & Barrett from US buyout firm Carlyle for £1.77 billion ($2.25 billion). This marks L1 Retail's first investment from its $3 billion capital pool dedicated to retail sector acquisitions. The Luxembourg-based retail investment arm, co-founded by Fridman in 2016, is led by Managing Partner Stephan DuCharme and former Goldman Sachs banker Michael Casey. The deal represents a partial exit for Carlyle, which purchased Holland & Barrett's parent company in 2010.
Sunday, 25 June, 2017