Dragons' Den star buys Robert Dyas

By Press Association , Jul 11, 2012
Filed under: Investing

Dragons' Den star Theo Paphitis has bought the 140-year-old hardware retailer Robert Dyas in a deal understood to be worth about £10 million.

Mr Paphitis, who is chairman of stationery chain Ryman but more well-known for his long-standing role on the BBC entrepreneurship series, acquired the 96-strong chain through his wholly-owned company Gladys Emmanuel.

Mr Paphitis, 52, who has an estimated net worth of £210 million and also owns lingerie chain Boux Avenue, said: "It is a business which fits well with my investment criteria and I'm looking forward to working with the management team who have done an excellent job in getting Robert Dyas to where it is today."

Lloyds Banking Group, the largest shareholder in Robert Dyas with a 40% stake, hired advisers earlier this year to explore options for the business including a sale.

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18 Comments

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lots of stores will close, but I'm suprised the chain hadn't broken long ago.
The products are great the website isn't. let's do it, I'm IN

July 12 2012 at 8:03 AM Report abuse Permalink rate up rate down Reply

Mike

Top heavy purchase if you ask me. PE not good. hmm he now owns Robert Dyas, I'm out!!

July 12 2012 at 5:35 AM Report abuse Permalink rate up rate down Reply

spookyjoshua

I hope it does work for goodness sake. Imagine if it failed. Gees

July 12 2012 at 4:54 AM Report abuse Permalink rate up rate down Reply

degsyroonee

Will it die on it's ass!!!

July 11 2012 at 5:29 PM Report abuse Permalink rate up rate down Reply

mpgshire

So Theo, you expect me to spend my children's inheritance in Robert Dyas just because you now own it along with a bank? I have never heard anything so ridiculous in all my life and for that reason - I'm Out !

July 11 2012 at 4:24 PM Report abuse Permalink rate up rate down Reply

gpward68

That shop's been going downhill for ages, with the depressing feeling of an outlet with no specialism, that does lots of different things, and none of them very well. Rymans is rubbish too but it seems to keep limping on somehow; who ever buys anything from them?

July 11 2012 at 4:04 PM Report abuse Permalink rate up rate down Reply

Frank

Great move Theo , and a brilliant price - less than the stocks worth . Without this Robert Dyas would be gone in 12 months , they had major cash flow and rent problems ....

July 11 2012 at 2:49 PM Report abuse Permalink rate up rate down Reply

1 reply to Frank's comment

made500

Dyas made pre tax about £2M last year - so he is paying a multiple of about 5. For retail - in that sector right now - Id say it was a little top heavy to be honest. Not a brilliant price but average.

July 12 2012 at 2:49 AM Report abuse Permalink rate up rate down Reply

dtranquil

ITS A SHAME HE COULDNT HAVE BOUGHT WOOLWORTHS AND SAVED IT FROM THE TITANIC DEATH,NOT FORGETTING MARKS AND SPARKS WITH LOW SALES AND PROFITS RECENTLY.

July 11 2012 at 1:09 PM Report abuse Permalink rate up rate down Reply

normanmik37

Whats he going to buy next...Greece?

July 11 2012 at 12:40 PM Report abuse Permalink rate up rate down Reply

jrcjimmoon

Lets get this right - Lloyds Banking Group owns 40% of Robery Dyas - however the British taxpayer owns 41% of Lloyds due to the 19.9Billion pounds injected into Lloyds since 2008.

Therefore Theo is buying from the tax-payer?

July 11 2012 at 12:31 PM Report abuse Permalink +2 rate up rate down Reply