PARIS, Nov 10 (Reuters) - French agricultural group InVivo said on Friday it was buying gardening chain Jardiland for an undisclosed amount as it expands its presence in retailing.
InVivo’s retail division will acquire Jardiland from investment fund L-GAM, which will become shareholder in InVivo retail, Invivo CEO Thierry Blandinieres told reporters.
Financial terms of the transaction were not immediately available.
The deal adds a third gardening chain to InVivo’s activities alongside Gamm Vert and Delbard.
InVivo and Jardiland had announced last month exclusive talks over an alliance under which their gardening chains would continue to operate separately, without giving further details.
Combined annual sales at the three banners represent more than 2 billion euros, and the acquisition of Jardiland will reinforce InVivo’s position as France’s largest garden retailer, it said. (Reporting by Gus Trompiz, Dominique Vidalon; Editing by Leigh Thomas)