Bibby Line Group said it had agreed to sell York-based Costcutter Supermarkets Group (CSG) to Bestway Wholesale, with the deal expected to be completed during the first quarter of 2021.
CSG will continue to operate as before under the new ownership, and approximately 1,500 stores branded under Costcutter, Mace, Supershop, Kwiksave and Simply Fresh will join brands Bargain Booze, Wine Rack and Central Convenience under Bestway Wholesale.
Bibby Line Group said CSG’s agreed sale price will remain “undisclosed”, adding that its sales rose by 10 per cent to £426m over 2019.
CSG employs around 500 people.
Chief executive of Bibby Line Group, John Cresswell, said the deal was “positive news” for the company and would help it secure future investments.
“Over the last two years, CSG has transformed itself into a profitable and much stronger business,” he said.
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