Appleby Westward, the regional distribution company servicing some 300 SPAR convenience stores in the south west, has announced it has reached agreement to acquire Gillett’s (Callington) Limited, the trading business of Gillett’s Holdings Ltd, following talks with all the Gillett family, their advisors PKF Francis Clark and Bond Dickinson, with a target completion date of early July.
Gillett’s (Callington) Limited is a family-owned business that operates 63 SPAR stores throughout Cornwall, Devon, Dorset, Somerset and Wiltshire, employing 950 people across the region and is one of the largest independent retailers in the UK, with an annual retail turnover of £65m (excluding VAT and services).
Saltash-based Appleby Westward, which intends to acquire the business for an undisclosed sum, plans to operate Gillett’s 63 SPAR shops as company-owned stores.
Mike Boardman, Managing Director of Appleby Westward, said: “We are delighted at the prospect of acquiring this very robust family business with its excellent platform of very well-run SPAR stores, and the acquisition will ensure continuity of supply for Appleby Westward to those stores.”
Alan Cookson, Director of Gillett’s (Callington) Limited, said: “This is a very good deal for both parties and means it’s very much business as usual for everyone. We have worked successfully in partnership with Appleby Westward since our business was founded 32 years ago and we are especially delighted that the stores are to remain part of the SPAR network.”