Poundland today is pleased to announce its sale to Gordon Brothers who have today entered into a definitive agreement with Pepco Group to purchase the business.
Under the new ownership, Poundland will continue to be led by chief executive officer Barry Williams who returned to the business in March 2025.
In addition, Gordon Brothers is providing up to £80 million in financing to Poundland which will allow the management team to progress with a proposed restructuring and turnaround of the business after a period of challenging trading.
The sale comes after Pepco Group announced in March it planned to re-focus its retail business under a single Pepco format, oriented around its Pepco clothing and general merchandise ranges.
Under the terms Pepco Group and the Poundland Group have also entered into transitional services agreements, for a finite transition period, which provide for the provision of certain transitional services following the transaction such as the provision of IT services and the procurement of clothing and general merchandise.
The business will continue to operate under the Poundland brand in the United Kingdom and under the Dealz brand in the Isle of Man and Republic of Ireland.
Poundland’s chief executive officer Barry Williams said: “Poundland is a UK and Ireland retailer of real significance, serving 20 million customers each year with a much-loved brand. Although recent trading has been challenging, we have built a turnaround plan with a simplified and more focused Poundland at its heart, as we aim to deliver the amazing value our customers expect.
“In due course we’ll share more details of the proposed restructure and turnaround plan. I’d like to thank Pepco for its stewardship of the business. We welcome Gordon Brothers and look forward to working with them as we implement our turnaround plan.”
“We are delighted to provide Barry Williams and his management team with the financing to support the substantial turnaround of this iconic retailer,” said Mark Newton-Jones, Head of Europe, the Middle East and Africa at Gordon Brothers. We believe Poundland is an essential business to UK consumers and plays an important role on the High Street.”
Poundland currently trades from around 800 stores across the UK and Republic of Ireland employing c16,000 colleagues, offering FMCG, clothing and general merchandise ranges.
