New Boathouse Capital has advised Virgin Group on the sale of Virgin Megastores, its record store business, to Zavvi Entertainment Group for an undisclosed amount.  The deal ended the Virgin group’s 30 year involvement with high street music retailing. The Virgin group had been withdrawing from entertainment retailing and this represents a disposal of an asset which is not core to the group’s future.

Virgin Group is a leading branded venture capital organization and one of the world’s most recognized and respected brands. It has created more than 200 branded companies worldwide with revenues in excess of £10bn.

ENDS

Notes to Editors

New Boathouse Capital has built its business on providing strategic advice to a core clientele of private owner-managed companies across a broad range of sectors, with a focus on long-term relationships. It was co-founded in 2000 by Peter Norris.

New Boathouse Capital advises on mergers and acquisitions, debt and equity financings, corporate restructurings and business strategy.  Its clients are generally privately-owned companies, often led by founder-entrepreneurs, ranging in size from start-ups to large trans-national corporations.  New Boathouse Capital has recently acted on transactions for the Virgin Group and Trainline.  It is based in London.

New Boathouse Capital is Authorised and Regulated by the Financial Services Authority.

For further information please go to www.newboathouse.co.uk