Terra Firma Capital Partners has sold off-licence chain Threshers to a consortium led by Edmund Truell, founder of Duke Street Capital, according to The Telegraph.

It is believed that the deal is worth significantly less than the £225m the private equity firm paid for it in 2000.

However, Terra Firma is reported to have made a profit from the investment after raising £200m via a sale-and-leaseback of Threshers’ freehold estate in April.