The majority shareholder of UK convenience retailer Costcutter is in negotiations to buy full ownership of the UK convenience retailer.
Bibby Line, a Liverpool-based business services group took a 51% stake in Costcutter in 2007 and is in talks to increase its interest in Costcutter to 100%.
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A report in the Liverpool Daily Post stated that Costcutter executive chairman Colin Graves revealed that the two parties had begun negotiations at the York-based chain’s 25th anniversary celebrations.
When contacted by just-food today (15 September), Bibby Line confirmed the negotiations were taking place but refused to comment further. It said there is no specific timescale for the takeover although it indicated there could be an announcement early next week.
A spokesperson from Costcutter said: “We’re not commenting any further on this at present.”
