Jump to content

Costcutter

From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by FrescoBot (talk | contribs) at 08:35, 5 September 2023 (Bot: link syntax). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Costcutter
Company typeFranchising
IndustryRetail
Founded1986; 38 years ago (1986)
Headquarters
Number of locations
1,700[1]
Area served
ProductsGrocer's shop, convenience shops
Parent
  • Barry Group (Costcutter Ireland)
  • Bestway (Costcutter UK)
Subsidiaries
Website
Costcutter shop in Deptford, London.

Costcutter is a chain of convenience shops, supermarkets and off-licences that operates in Ireland, Great Britain and Poland. The chain operates primarily as a symbol group and is owned by Barry Group in the Republic of Ireland and by Bestway in the United Kingdom.[2][3]

In the UK, the group owns the Costcutter, Kwik Save, Mace, Supershop, and Simply Fresh brands.

History

Costcutter was founded in 1986, by Colin Graves.[4]

In 2000, the brand entered the Irish market as a separate business under the ownership of Barry Group.

By 2006, there were some 1,400 shops under the Costcutter brand,[4] with the majority of shops being in the United Kingdom, and 120 shops in the Republic of Ireland and 52 in Poland.[5]

A proposed merger with Nisa-Today's collapsed in November 2006, after concerns about a cartel.[4] which were reported to the Office of Fair Trading by members of Nisa-Today's, who opposed the merger.[6]

Costcutter revived the Kwik Save brand in 2012, from a separate chain which had ceased trading.[7]

In 2018, The Co-Op Group made an offer of £15 million in an attempt to take ownership of Costcutter. The bid was rejected, but it was believed the Costcutter was open to further talks.[8] The Co-op subsequently became the sole supplier to the Costcutter group.[9]

In 2020, during the Covid-19 pandemic, Costcutter built 20 pop-up shops in NHS hospitals.[10]

In December 2020, Costcutter's UK business was acquired by the wholesaler Bestway. The Co-op supply agreement continues.[11] Its Irish business remains in the ownership of Barry Group.[12]

References

  1. ^ "About Us!". Costcutter. 28 March 2016. Retrieved 28 March 2016.
  2. ^ "What is Costcutter?". Retrieved 17 November 2012.
  3. ^ "About Costcutter Ireland".
  4. ^ a b c "Nisa's chairman to step down", Yorkshire Post, 2 November 2006
  5. ^ "Local retailers planning merger", BBC News, 10 May 2006
  6. ^ "Nisa-Costcutter deal collapses". 23 October 2006.
  7. ^ "Costcutter begins a new era with Kwiksave".
  8. ^ "Co-op rebuffed after £15m takeover raid on struggling Costcutter". Sky News. Retrieved 20 March 2020.
  9. ^ Co-operative https://www.co-operative.coop/media/news-releases/csg
  10. ^ Nazir, Sahar (7 April 2020). "Costcutter launches 20 pop-up stores in NHS hospitals - Retail Gazette". Retrieved 7 May 2020.
  11. ^ The Grocer https://www.thegrocer.co.uk/mergers-and-acquisitions/bestway-snaps-up-costcutter-for-undisclosed-fee/651624.article
  12. ^ "About Costcutter Ireland".

9. https://m.independent.ie/business/vantage-chiefs-in-mbo-row/26129207.html

10. The Irish times https://www.irishtimes.com/business/barry-s-buys-24-shop-franchises-1.1105974

11.Irish Independent https://m.independent.ie/business/costcutter-vantage-in-strategic-link-up/26195238.html

Retrieved from "https://en.wikipedia.org/w/index.php?title=Costcutter&oldid=1173935431"