Russian billionaire Mikhail Fridman's fund L1 Retail has agreed to buy health food chain Holland & Barrett for about 1.8 billion pounds ($2.3 billion), according to a source familiar with the matter.
L1 Retail will take control of the chain from its private equity owners Carlyle Group. The deal was first reported by the Financial Times.
Carlyle Group bought Nature's Bounty, the owner of Holland & Barrett, in 2010 for $3.8 billion.
L1 Retail, Holland & Barrett, Carlyle Group and Nature's Bounty were not immediately available to comment.