11 July 2012 by Nicole
Dragons' Den star and Ryman owner Theo Paphitis has
bought Robert Dyas, the 140 year-old hardware chain
with 96 shops.
Announcing the deal, Smarta board member Paphitis said: "I am
very pleased. 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."
Paphitis, whose empire already includes Ryman, the stationery
retail chain and Boux Avenue lingerie, will become chairman. Robert
Dyas CEO Graham Coles will remain in his current position.
Geoff Brady, the outgoing chairman of Robert Dyas said: "I am
delighted that the business has attracted an entrepreneur of Theo's
stature: his track record for growing retail businesses is second
The sale comes after a period of growth for Robert Dyas.
Like-for-like sales growth was 3.8 % in the company's last
financial year to 31 March 2012 and the company's increasing sales
performance has continued into the current year.
Smarta will be getting Theo's inside take on the deal and his
plans for Robert Dyas over the next few days. In the meantime check
out Theo's top tips for start-up businesses.