Top 50 Indie Penny Petroleum has entered into a new long-term partnership with Bestway Retail.
The two companies were already working together but their new agreement accelerates a longer-term strategic plan.
Over the past three years the partnership between Bestway Retail and Penny Petroleum has been focused on optimising the offer to 11 forecourts and retail stores, to deliver strong sustainable sales growth. The new agreement sees a further 57 stores joining the Costcutter operation to improve the customer offer.
As part of the agreement and development plan, Penny will continue rebranding its sites to Penny on the Move and will join the Bestway Retail National Account division, benefiting from a dedicated business support team, that will work closely with the Penny Petroleum leadership and operational network.
David Penny, founder and managing director of Penny Petroleum, said: “Having reviewed our strategy for growth and the forward direction we are to take our business in to optimise the many opportunities on our forecourts, we are delighted to be entering a new phase of our trading partnership with the Bestway/Costcutter team.
“Over the last three years we have developed a great relationship and introduced an aligned way of working between our two teams, which has resulted in an excellent performance and impressive sales uplifts via presenting compelling environments and offer to meet our shoppers needs.
“I look forward to seeing the teams continue to work together to further develop the shopper experience within our existing forecourts and to bringing in new locations to the Penny estate.”
Vicky Hennessy, chief operating officer of Penny Petroleum added: “It’s with good reason that we are broadening our relationship with the Bestway/Costcutter team as together we have formed an excellent understanding and shared commitment to delivering our mutual goals.
“We are now concentrating on the branding and supply switch along with the roll out of our epos upgrade to CBE, so it is all systems go!”
Retail director for Bestway Retail, Jamie Davison, commented: “Having known David and Vicky for many years and having admired their dynamic approach and consistent growth, we are delighted to have successfully demonstrated that we are best placed to partner with them as they embark on the next phase of their development.
“Seeing the two teams working so collaboratively has been inspiring and has undoubtedly been a key factor for us both. The Penny team are great people to work with and we are very excited about what we will achieve together.”
