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Retail & Consumer

Bibby Line Group sells Costcutter to Bargain Booze owner Bestway Wholesale

Second big sell-off for Bibby Line Group

Costcutter is one of Britain's best-known local shop brands(Image: Gazette)

Supermarket and corner shop brand Costcutter has been sold to Bargain Booze owner Bestway Wholesale.

It's the second major deal for the Liverpool-based Bibby Line Group this week, after Menzies Distribution agreed to buy Bibby Distribution. The company has not disclosed the value of either deal.

Costcutter Supermarkets Group (CSG) brands include Mace, Kwiksave, Supershop and Simply Fresh. Those brands are used by more than 1,500 independent retailers across the 海角视频.

Bibby Line Group said Costcutter had reported a "significantly improved performance over the last two years". In 2019 its sales rose by 10% to £426m, with EBITDA rising by more than £9m to £5.1m.

Bestway's brands include Bargain Booze, Best-One, Wine Rack, Select Convenience and Central Convenience.

John Cresswell, CEO of Bibby Line Group, said: “Over the last two years, CSG has transformed itself into a profitable and much stronger business, and I’d like to thank the team for their unstinting commitment and passion for helping independent retailers thrive.

“We hope CSG will continue to prosper and grow as it becomes part of a larger business with deep retail expertise.

"This is also positive news for Bibby Line Group, completing the planned strategic realignment of our portfolio, further strengthening our Group balance sheet for future investment.”