DLA Piper guides Poundland acquisition deal

DLA Piper has successfully advised its longstanding client Gordon Brothers on the acquisition of discount retailer Poundland, which boasts over 800 stores across the UK and Ireland. In addition to the acquisition, Gordon Brothers will provide up to GBP80 million in financing to support the Poundland management team's restructuring and turnaround plan. 

The multidisciplinary DLA Piper team, led by Rob Russell, Head of Restructuring, UK, included partners Jonathan Richards, Joseph Frew, Sarah Letson, Gavin Smith (all from Finance), Andrew Walker (Real Estate), David Booth and Satnam Sahota (both from Intellectual Property & Technology), and David Smith (Tax). "We are delighted to have played a role in the renewal of Poundland; a cornerstone retailer on the UK high street," Russell remarked. He expressed confidence in the future of the business under Gordon Brothers’ stewardship, adding that "our support for Gordon Brothers on this transaction is another example of how our cross-practice team delivers complex acquisitions on an expeditated timeline." Ben Mukhida-Olushola, Lead Transaction Counsel, EMEA & APAC for Gordon Brothers highlighted the DLA Piper team’s performance by stating, “the DLA Piper team were outstanding across the board, advising and supporting Gordon Brothers through this time pressured, complex and competitive process." He continued to praise their "commercial acumen, responsiveness, strategic insight and outright hard work, were instrumental in ensuring the successful close of the transaction." DLA Piper also advised Gordon Brothers on the sale of its global brand, Laura Ashley, in December 2024.