Consumer guru Martin Lewis has sold his influential MoneySavingExpert website for £87m.

Lewis – who topped The Grocer’s 2011 Power List – will pocket £35m in cash as well as taking a stake in the buyer, personal finance site MoneySupermarket.

“This is great news for MoneySavingExpert and its users, ensuring – with or without me – the site will be around for many years to come, maintaining our ethos of ‘cutting your costs and fighting your corner’,” he said.

Lewis said the site he launched in 2003 had become “far bigger than the man who founded it, and now is the right time for it to stand on its own two feet”.

Last year the business generated profits of £12.6m from revenues of £15.8m.