Online garden products retailer secures £4 million investment
Owned and managed by the husband and wife team of Ian Charles and Erica Robb, Primrose is a rapidly growing online garden products retailer. Since 2003 the company has achieved impressive annual growth rates of up to 40% and is currently employing 125 people in Reading, Berkshire.
In June 2012 Business Growth Fund invested £4 million of growth capital in Primrose. BGF’s equity investment will enable the company to significantly increase its employees and senior team and to fund working capital. This will enable the business to continue on its established growth trajectory to maximise awareness of its quality products. BGF will take a minority stake in the business and James Austin will join the existing board on behalf of BGF.
With the help of BGF, the company aims to grow through an expansion of its product range.