UK off-licence giant Threshers sold

The UK’s biggest off-licence business changed hands today after being sold to a team of private equity investors.

Entrepreneur Guy Hands’ Terra Firma investment company has sold Thresher Group, which owns Threshers, Wine Rack and Haddows in Scotland, to a consortium led by Edmund Truell, the former head of private equity firm Duke Street Capital.

Mr Hands is said to have made a “slight” profit on the deal. The business was acquired for £225m (€331m) seven years ago by Nomura, which later became part of Terra Firma.

Thresher Group, based in Welwyn Garden City, has around 2,000 shops and 12,000 staff. It boasts that more than half of the UK’s population live within 10 minutes’ walk of one of its stores.

Mr Truell has more than 20 years experience in private equity, leading Duke Street until 2005 and growing its funds under management to around £1.5bn (€2.2bn).

A spokesman for Terra Firma confirmed the sale today.