McColl's acquires five new convenience stores
Businesses sold
Five Nisa branded convenience stores in the Exeter area have been acquired by McColl’s, as part of their ongoing expansion programme. Last year, McColl’s acquired an additional 60 stores, as the company continues towards its goal of 1,000 stores by 2016.
The stores were acquired from Exe Trading Ltd,run by Devon businessman Mike Bird, and through Christie + Co, who facilitated a seamless sale process.
Jonathan Miller, Chief Financial Officer at McColl’s said: “This acquisition of multiple stores is excellent news for McColl’s and will bring us one step closer to our stated goal of 1,000 stores by 2016. Our relationship with Christie & Co was an integral part of achieving a multiple acquisition and we look forward to working with them in the near future.”
Steve Rodell, Head of Retail at Christie + Co commented: “Jonathan Southgate in our Exeter office developed the initial conversation with Mike Bird. We are working closely with McColl’s around the country to assist in their ambitious growth plans and know that they are well placed to secure deals ranging from individual stores through their own acquisitions team, to larger corporate deals following their flotation last year.”
Jonathan Southgate of Christie + Co’s Exeter Office remarked: “This transaction illustrates the successful relationship between our regional and corporate team, proven time and again to get quick decisions and the best market price for retailers.”
