Robert Dyas confirms R Capital is not looking to buy the business

Hardware and homewares retailer Robert Dyas has denied reports that Little Chef owner R Capital is among interested buyers.

There were reports at the weekend that R Capital was eyeing Robert Dyas. However a Robert Dyas spokesman said: “R Capital is not part of any sale process, a point that has been confirmed with the company’s advisers and shareholders as well as with R Capital itself.”

It is understood that value retailer Wilkinson is still one of the five parties vying to acquire Dyas.

The spokesman added: “The sale process is progressing well, with strong interest being expressed from the UK and overseas.”

Robert Dyas has been up for sale since last year and is valued at around £25m. Cavendish Corporate Finance is running the process.

It is expected to enter exclusivity with a buyer next month and Dyas could be sold by early June.

The retailer posted like-for-like sales up 3.8% in the year to March 31 2012.

Source : Tiffany Holland – Retail Week
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