Bestway Wholesale has agreed to buy Costcutter Supermarkets Group from Bibby Line Group.
As part of the deal, around 1,500 Costcutter, Mace, Supershop, Kwiksave, and Simply Fresh stores will become part of Bestway Wholesale’s retail estate, along with 24 franchises.
Bestway Wholesale said the acquisition, which is subject to FCA approval, will take its annual turnover to almost £3bn. The group already owns Bargain Booze, Best-One, Wine Rack, Select Convenience and Central Convenience.
According to Bestway Wholesale, CSG’s financial performance has improved over the last two years. During the 12 months to 31 December 2019, CSG’s sales rose by 10 per cent to £426m with sales and profitability continuing to rise throughout 2020. The company employs around 500 people.
Commenting on the acquisition, Dawood Pervez, managing director of Bestway Wholesale, said: “Costcutter is a great brand with a long heritage and a history of success alongside industry-leading and loyal retailers, with some of the best in-store execution in the business.
“As part of Bestway Wholesale, the team at Costcutter will be able to build upon the amazing results they have been achieving in partnership with their retailers, helping them to innovate and adapt to an ever-changing market in order to grow their businesses and sales.”
On completion, the family-owned group – which also operates across the pharmacy, banking and cement sectors – said it will become the eleventh largest independently owned multi-national conglomerate in the UK.
Darcy Willson-Rymer CSG’s CEO of nine years will be leaving the business following completion of the acquisition. He said:
“Joining the Bestway family could not have come at a better time for our retailers. Joining a business of Bestway Wholesale’s size, scale, and expertise will unlock new opportunities to help CSG’s independent retailers thrive. This is a cause that I know Bestway is absolutely committed to.
“Right now, that means three things: helping our retailers navigate the challenges of the COVID pandemic, continuing to invest in the BDM support our retailers receive and the retailer sales growth we are able to deliver through Shopper First, and introducing new and innovative ways to engage shoppers and deliver the very best retail offer a
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