Major national symbol group Costcutter has acquired a 20% stake in the Simply Fresh retail brand, the Kenilworth-based operation launched in 2009 by Kash and Sukhjit Khera to bring a more premium and fresh-focused package to the UK symbol sector. This investment formalises the existing agreement whereby Simply Fresh stores are supplied as part of the Costcutter network, ordering through Costcutter head office for delivery by new distribution partner Palmer & Harvey.
Currently 48 members, now targeting accelerated recruitment
Since launching, Simply Fresh has grown steadily, and should reach 60 stores by the end of 2014. The group has gained recognition for its focus on recruiting ambitious and progressive retailers who bring a strong personal input to running their stores, with each offering unique elements to add to the core grocery offer derived from Costcutter. This investment from Costcutter is aimed to enable the brand proposition to be developed further and will support plans to expand it to more than 300 stores in the next five years.
Adds another fascia to the Costcutter portfolio
Following the tie-up with Palmer & Harvey Costcutter has also included the Mace fascia within its stable of retail brands alongside Costcutter and Kwiksave. Now Costcutter will also be able to promote Simply Fresh as an alternative for locations where a more tailored offer may be relevant, and where retailers are looking to express their individualism.
Commenting on the deal Kash Khera, managing director Simply Fresh said:
"Having worked with Costcutter Supermarkets Group for a number of years it is clear to see that we have the same goals and we are very much looking forward to developing our existing relationship as part of this new partnership. With access to its infrastructure and the full support of its team we can continue the growth and strategic development of the business at a much quicker rate than we could have done on our own."
Symbols in the wider context of convenience ...
As the biggest segment of UK convenience retailing, symbol speakers make up a key part of the programme for Convenience Retailing 2014, as part of a day also crammed with insight from co-operatives and multiples as well as channel suppliers.