Ryman pens deal to acquire iconic brand London Graphic Centre
Ryman, part of the Theo Paphitis Retail Group that also includes Robert Dyas and Boux Avenue brands, has announced today that it is acquiring the iconic retail brand London Graphic Centre from Core Capital. The transaction includes the flagship store in London’s Covent Garden and the online business of London Graphic Centre, which is also based there.
London Graphic Centre is a leading retailer of materials to the art and design community, particularly in London and was established in 1973. The Covent Garden store, covering 7,000 sq ft is regarded as a stand-out and iconic destination in the world of arts and graphics, offering unparalleled choice to its customers from the world’s leading suppliers in its key categories.
Theo Paphitis, Chairman of the Theo Paphitis Retail Group, said: “London Graphic Centre is a specialist retail brand that has interested me for many years, given some of the similarities it has with categories ranged in Ryman. Its heritage, excellent location and opportunity for online growth, are what make the business a welcome addition to our group.
I have been impressed with the passion that the management team and their colleagues at London Graphic Centre have for the business and look forward to investing in it to extend its brand presence, current ranges and build on its success. It is a fantastic sister brand for Ryman and a market we understand, know and love. The acquisition will result in opportunities for both Ryman and London Graphic Centre in several ways.”
Core Capital’s David Steel added: “We are delighted to be selling London Graphic Centre to Ryman and the Theo Paphitis Retail Group, an owner that lives and breathes retail, and importantly, knows and understands London Graphic Centre. We believe they will be able to develop its unique position in the marketplace and enable the business to develop even further.”