Scottish retailer with 19 stores across country sold to English peer

A Stirling-based paint retailer with 19 stores across Scotland has been snapped up by a larger English peer in a move that is likely to lead to further openings.
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The Paint Shed, founded by Ogilvie Rolland in 1992, has been acquired by Brewers, which was established in Sussex in 1904 and is still a family run business with 193 stores across England and Wales. The Paint Shed will continue to operate as a standalone subsidiary of the wider Brewers Group.

Bosses said the combined group would enable efficiencies in distribution, expanded product ranges and customer services. In the near to medium term, the Paint Shed sees the opportunity for up to ten more store openings across Scotland and has not ruled out further growth by acquisition.

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The Paint Shed’s stores are located in Aberdeen (Westhill), Bathgate, Dumbarton, Dunfermline, East Kilbride, Edinburgh (Blackford, Howe Street, Hutchison Terrace, Loanhead, Marchmont), Glasgow (Anniesland, Parkhead), Glenrothes, Greenock, Helensburgh, Inverness, Musselburgh, Paisley and Stirling, as well as a branch in Berwick-upon-Tweed. Financial details surrounding the deal have not been disclosed. The deal provides a successful exit for growth capital investor BGF which has backed the Paint Shed since 2020.

Rolland, executive chairman of the Paint Shed, said: “As another business with strong family roots, [Brewers’] values and culture mirrors our own, and will be a fantastic fit. It is our amazing people that have built such a successful company. I can’t thank them enough for their contribution and commitment over the years, and I wish the team every success going forward.”

Managing director Michael Rolland said: “Looking ahead, the partnership with Brewers supports our view that, whether online or in store, independent paint retailing is the future. We plan on continuing to win market share in the locations we serve and grow the Paint Shed brand wherever we think we can add value to the customer. In our experience, people prefer to shop with specialist retailers, as opposed to generalists or single brand offerings.”

Simon Brewer, chief executive of Brewers, said: “Ogilvie, Michael, and the Paint Shed team have built an incredible business, with great progress made over the last few years despite a challenging environment. The culture and values they have instilled in their business reflect those that matter most to us and that is why this coming together is most exciting. The Paint Shed’s geography is a perfect fit with the Brewers Group’s own store network. Together we bring even greater economies of scale which will benefit all our customers. We are extremely optimistic for the prospects of the combined business and our next phase of growth.”

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Graham Clarke, investor at BGF, added: “We have worked closely with the Paint Shed’s management to support positive growth through new stores and expansion since our 2020 investment, and we look forward to seeing the business go from strength to strength. I am confident that the acquisition by Brewers is a strong outcome for all parties, representing a good fit for the company going forward, whilst delivering BGF a strong internal rate of return (IRR) of 22 per cent.”

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