Bibby Distribution’s parent company has bought a 51 per cent stake in the Costcutter retail group in a deal estimated to be worth about £100m.
Bibby handles the ambient distribution for retail buying group Nisa Today’s. Costcutter, which owns 28 shops and supplies more than 1,500 independent convenience stores is the largest member of the group.
The existing Costcutter management team and shareholders of executive chairman Colin Graves, managing director Nick Ivel, sales and development director David Thompson, and trading and marketing director Angela Barber will continue to operate the business, and will be joined on the board by three non-executives from Bibby Group.
Costcutter said the investment represented a strengthening of the contract with Nisa Today’s from all shareholders.
Bibby moves into retail
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