Bridgepoint to buy Hobbycraft

Private equity group, Bridgepoint Capital, is in talks to buy Hobbycraft for more than £100m. The family-owned arts and craft retailer, had also attracted attention from private equity group Exponent, as well as Halfords, the car parts and cycle retailer. Blackstone, owner of the US group Michaels, which is the world’s largest arts and crafts retailer, also lost out to Bridgepoint.