The £1.77bn acquisition is the first from the retail investment arm of the business co-founded by Mikhail Fridman in 2013

An investment firm co-founded by Russian billionaire Mikhail Fridman has agreed to buy high street health food retailer Holland & Barrett from US buyout firm the Carlyle Group for £1.77bn, 

FN's sister publication Private Equity News reports

The deal is the first investment L1 Retail has made from a $3bn pool of capital it raised at the end of last year to buy companies in the retail sector.

Carlyle sells Holland & Barrett to Russian billionaire’s fund

William Louch

Carlyle Group

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