Caledonia Investments (LSE:CLDN, VFEX:CMCL), the FTSE 250 investment trust, has completed a £60 million investment in Blue Diamond, the leading garden centre operator in the UK and Channel Islands.
The deal comprises £40 million to support future growth and £20 million to provide liquidity for existing shareholders.
Caledonia now holds a fully diluted minority stake of 16% in the business.
The company has also agreed a framework to make up to £40 million of further follow-on capital available to Blue Diamond over the next five years, subject to agreed conditions.
That additional funding is intended to support Blue Diamond's acquisition programme, investment in its existing garden centre estate and further shareholder liquidity.
