Private equity firm Terra Firma has sold off-licence chain The Thresher Group to a consortium led by private investor Edmund Truell.

Terra Firma bought the group, which operates around 2,000 Threshers, The Local, Wine Rack and Haddows stores, in 2000 for £225m. Last month, it raised £200m through a sale-and-leaseback deal.

A spokeswoman for Thresher said it was business as usual for the chain following the sale.

Meanwhile, Thresher Group's franchise scheme opened its 50th franchise store, in Hove, East Sussex.

The company said 2,500 would-be franchisees had applied for stores.