Advent Mulls Sale of Poundland

(Reuters) – U.S. buyout firm Advent International has appointed advisors to assess a possible sale of budget store chain Poundland, the Financial Times reported on Friday.

The private equity group, which also owns German fashion retailer Takko, has hired Close Brothers as it assesses its options for the single-price retailer, which could include a sale to a rival firm or another buyout house, the FT said.

Poundland has seen rapid sales growth, as cash-strapped shoppers fled to discount retailers, and opened its 250th store late last year.

No one at Advent International could immediately be reached for comment. (Reporting by Caroline Copley; Editing by Carol Bishopric)