Bestway buys Costcutter group serving 1,500 stores

Bestway buys Costcutter group serving 1,500 stores
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Bestway Wholesale has confirmed it has bought Costcutter Supermarkets Group (CSG) from owner Bibby Line Group.
Bestway said the acquisition, which will complete on approval from the Financial Conduct Authority, follows the improvement in CSG’s financial performance over the last two years.
During the 12 months to 31 December 2019, CSG’s sales rose by 10% to £426m, it said, with sales and profitability continuing to rise throughout 2020 as consumers increasingly shopped locally as a result of the Covid-19 pandemic.
The acquisition takes Bestway Wholesale’s annual turnover to almost £3bn, alongside a symbol, franchise and company-owned store retail estate of more than 3,795 stores in the UK, including 2,682 fascia and 195 company-owned.

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