Fridman to buy Holland & Barrett

london — Russian billionaire Mikhail Fridman’s investment vehicle agreed to buy Holland & Barrett for about £1.8 billion ($2.3 billion), gaining one of Europe’s largest health-food retail chains in its first retailing acquisition.

Fridman’s L1 Retail will acquire the business from private equity owner Carlyle Group LP, according to a statement Monday. For Carlyle, the sale marks a partial exit from Holland & Barrett owner Nature’s Bounty Co, which it acquired in 2010 for $3.8 billion including debt.

The deal demonstrates a continued appetite for retailing assets, particularly those serving the growing number of consumers using natural foods and products. Natura Cosmeticos SA this month started exclusive talks to acquire British cosmetics seller Body Shop from L’Oreal SA for €1 billion ($1.1 billion).

The Holland & Barrett takeover “is an indication of its view of the strength in the health retail sector despite it being perceived to be an industry struggling to remain afloat,” Jonathan Buxton, partner and head of retail at Cavendish Corporate Finance, said by e-mail.