Terra Firma

Thresher

Description

Thresher is the UK's largest specialist off-licence (alcohol) retailer with approximately 2,000 stores selling wine, beer and spirits.

Strategy

Terra Firma identified considerable opportunities to enhance performance through improving procurement and merchandising, implementing a more sophisticated pricing strategy and reducing costs. Strong asset backing meant that the upside from operational turnaround could be obtained with low downside risk.

A new senior management team accomplished a comprehensive turnaround of the Thresher business. In particular, sophisticated price sensitivity analysis enabled a much improved pricing structure through substantially fewer sales lines.

Outcome

The Thresher Group was sold to a financial buyer in June 2007.

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