The discount chain B&M has announced it is to expand overseas with the purchase of the German retailer Jawoll.
50 stores in Germany
It is understood B&M, who operate 375 stores in the UK are set to buy Jawoll. Jawoll is one of Germany's leading non-food discount retailers, generating annual sales of €155m (£128m) from 50 stores across the country. Despite the announcement to focus on overseas expansion, it is understood this will not affect the UK growth plans where only 35% of the population lives within a 10 minute drive of a B&M store.
B&M is chaired by Sir Terry Leahey and run by Simon, Bobby, and Robin Arora. The business is owned by the private equity group Clayton, Dubiler & Rice who are understood to be considering fundraising options which could lead to B&M being valued at £2bn in a potential IPO.