Bestway Wholesale today announced that it has completed on the acquisition of Costcutter Supermarkets Group (CSG) from Bibby Line Group, following Financial Conduct Authority (FCA) approval.
The business will be led by Bestway Wholesale’s managing director, Dawood Pervez. Darcy Willson-Rymer, CEO of CSG steps down with effect from today.
Speaking of the completion, Dawood Pervez said: “It is with immense pleasure that we can formally welcome CSG into the Bestway family and we are delighted that the expected FCA approval has come through so quickly. We are very much looking forward to supporting the growth of our retailers and helping them excite their shoppers within a competitive marketplace.”
Pervez has confirmed that integration of the two businesses will be led by Naser Khan, COO of Bestway Wholesale.
Speaking of the journey ahead, Khan said: “This is an incredibly exciting time as we look ahead and implement plans and lead from a position of increasing strength to accelerate growth and support our customers through seamless integration.”
The acquisition takes Bestway Wholesale’s annual turnover to almost £3bn, alongside a symbol, franchise, and company store retail estate of more than 3,795 stores in the UK, (including 2,682 fascia and 195 company owned). Twenty of its company-owned Central Convenience Stores sites have forecourts)
Following news of the agreement of CSG acquisition in December, Bestway Wholesale announced that the current supply agreement that CSG retailers currently have with the Co-op, has been extended until 2026, giving added reassurance that Bestway is committed to ensuring that all the benefits, services and features that retailers currently receive, remain at the heart of its business.
Pervez concluded: “The acquisition cements our position as the true home of independent retailers with the breadth of scale and offer that independent retailers need to thrive in today’s competitive market.”