Somerfield has acquired a Scottish convenience store operator for an undisclosed sum.
Somerfield - the UK’s fifth biggest grocer following the merger between Morrisons and Safeway - confirmed it had bought Aberness, which owns and operates 36 convenience shops, has franchise arrangements with operators of five other stores, and distri butes to a further 130 outlets, all of which operate under the well-known Mace brand.
Aberness, which is based in Aberdeen, was founded in 1857 and had net assets of £4.8 million at the end of March 2003.
The convenience store market, worth more than £20 billion a year, is one of the fastest growing food retail segments in the UK, with giants such as Tesco, Marks & Spencer and Safeway edging in on territory dominated by the likes of the Co-op, Spar, Costcutter and Londis.
Commenting on the deal, Somerfield chairman John von Spreckelsen said: "The [Aberness] management team will remain with the business and we look forward to combining Aberness’s expertise and strengths in core convenience categories with Somerfield’s strengths in grocery, fresh and chilled foods."
In January, Aberness posted pre-tax profits of £172,000 for the year to March 31, 2003, against losses of £28,000 in 2002. Aberness has won a number of trade awards in recent years, including one for its Restalrig outlet in the Capital.
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