Deal worth £250m
A consortium led by Edmund Truell has agreed to sell 75 per cent of Threshers and its entire stake in BrightHouse to investment firm Vision Capital for more than£250 million.

Truell only bought the wine retailer and hire-purchase chain two weeks ago from Terra Firma, the private equity group headed by Guy Hands. However, in its brief ownership, the consortium said it acted rapidly to secure an£85 million Threshers pension fund.

It also said it is to restructure its interests in the Thorn group, of which BrightHouse is a subsidiary. The consortium intends to retain the£1.2 billion Thorn pension scheme and Quadriga, a provider of entertainment and internet services to hotels.

Truell said: 'We are pleased to have successfully agreed the sale of these two companies, while enhancing the security of the Threshers pension fund.'

Vision Capital chief executive Julian Mash said: 'This is a win-win deal for us and Edmund Truell's consortium. We are looking forward to acquiring these established businesses with potential for further growth and working with their management teams to achieve it.'

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