Scottish-based investment fund Inverleith has acquired a majority stake in supermarket and food-to-go chain, Planet Organic, in a deal thought to be worth £15m.
The equity is set to be used to more than double the group’s seven-strong portfolio of London-based stores in the next five years.
Inverleith chief financial officer Stella Morse, who will join the Planet Organic board, said: “We look for companies that have a unique selling point and a strong defendable market position. In Planet Organic, we have a retailer and brand at the forefront of the natural and organic movement in the UK, a category that continues to expand.”
Planet Organic chief executive Peter Marsh said: “The ability to look at opening three or four sites a year is really exciting. Most of our employees have been at Planet Organic for many years and look forward to serving wider London communities.”
Planet Organic has seven stores across London, three in the centre of London at Devonshire Square, Torrington Place and Tottenham Court Road and a further four at Muswell Hill, Wandsworth, Westbourne Grove and Islington. Planetorganic.com delivers nationwide and offers a collect in store service.