Bestway’s Costcutter acquisition confirmed
Bestway Wholesale’s purchase of the Costcutter Supermarkets Group has been approved by the FCA.
It means the deal for the convenience chain to join Bestway’s estate from Bibby Line Group has now been completed.
Costcutter’s current CEO Darcy Willson-Rymer has stepped down with immediate effect, with Bestway Managing Director Dawood Pervez taking over – while the integration of the two businesses will be led by Bestway COO Naser Khan.
“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,” said Khan.
The Costcutter acquisition takes Bestway Wholesale’s annual turnover to almost £3 billion and increases its symbol, franchise and company store real estate to 3,795 stores in the UK.
Retailers and suppliers will be supported by this additional scale, while Costcutter retailers will continue to work under the current supply agreement with Co-op, which Bestway has extended until 2026.
“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,” said Pervez.
“We’re very much looking forward to supporting the growth of our retailers and helping them excite their shoppers within a competitive marketplace
“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.”Bestway Costcutter Dawood Pervez Naser Khan