BARGAIN Booze owner Conviviality Retail has bought a chain of convenience stores in the East Midlands and Yorkshire for £6m as it seeks to gain a greater foothold in the region.
The company, which owns hundreds of franchised off-licences and convenience stores in the UK, said yesterday it has acquired all the issued share capital of GT News.
The newsagent has 37 outlets between Leeds, Nottingham and Manchester – of which 17 trade under the Spar brands.
Most of the stores will be converted to Bargain Booze or Bargain Booze Select Convenience stores over the next few months, the group said.
The deal is Conviviality Retail’s second acquisition in the Yorkshire area in less than a year after the company bought Rhythm & Booze for £1.7m last May.
“Yorkshire and the East Midlands are two such areas and will provide a significant growth opportunity,” Conviviality Retail chief executive, Diana Hunter, said.
“Customers will get even better value for money across all the brands and ranges that they currently buy as well as the additional benefit of a much stronger range of beers, wines and spirits,” she added.