An ex-DJ and a former Lord Mayor: Who is behind Poundland bidder Xyra Group?
Xyra Group is pulling ahead in the race to buy Poundland. Felix Armstrong explores who is behind this little-known investment firm A former DJ, an ex-builder and the 695th Lord Mayor of the City of London walk into a boardroom. Could they walk out as the new owners of Poundland? Xyra Group, an obscure investment [...]
Xyra Group, an investment firm headed by a former DJ, a former Lord Mayor, and a builder-turned-businessman, is the leading bidder for Poundland. The firm has offered £12.5 million to take over the retailer, putting it ahead of another bidder, Martin Property Group. Xyra Group, which has no prior transaction experience, has enlisted the help of several City veterans to bolster its credentials.
The firm's founder, Manvedeep Singh, has a background in the health and care home industry, while its CEO, Viktor Bronzovic, is a Croatian DJ who turned his interest in elastic bands and masks into a successful business during the pandemic. Xyra's chief executive has secured a senior position on the board by appointing Michael Mainelli, a former Lord Mayor and economist, as their sole advisory committee member.
Andrew Brode, Xyra's newly-appointed vice chairman, is believed to be the key figure that lends the bidder significant credibility.
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