Budget greeting card retailer Card Factory has appointed Dunelm chairman and former Travis Perkins chief executive Geoff Cooper as its chairman.
Cooper, who left Travis Perkins in 2013, is joining the 700 store Card Factory ahead of a possible flotation. A flotation of Card Factory is not definite, but is the likeliest option after an auction of the company was abandoned last year.
Card Factory chief executive Richard Hayes commented: “He has a very strong track record of leadership in the retail sector and Card Factory will benefit enormously from this broad experience as we enter our next phase of growth.”
Cooper spent almost a decade with Travis Perkins and is a non-executive director of media group Informa. His appointment is likely to enhance the credibility of Card Factory among city analysts.
Card Factory is currently under the control of private equity house Charterhouse. An IPO is also expected to bring another boon to founders of the retail chain Dean and Janet Hoyle, who made £350m from selling the retailer to Charterhouse. A flotation of Card Factory could reap £700 million according to some forecasts.
Several UK retailers are competing for investors’ attention, with the parent of Appliances Online, Fat Face, Game Retail, House of Fraser, Pets At Home and Poundland all looking at flotations.
