Retail investment fund L1 Retail are set to acquire Holland & Barrett in a deal worth approximately £1.7bn. Owned by Russian billionaire Mikhail Fridman, the move signifies the group’s intent to take a bigger share of the £10bn health and wellness market, adding that they would continue to work with Holland & Barrett’s chief executive, Peter Aldis. L1 managing partner Stephan DuCharme also added that "Holland & Barrett is a clear market leader in the UK health and wellness retail market, with attractive growth positions in other European and international markets, and growing online presence, with a leading customer loyalty programme and 10 million active cardholders.”