UK supermarket group J Sainsbury has announced the acquisition of convenience store chain Jacksons Stores.
Jacksons, which has 114 stores across Yorkshire and the North Midlands, recorded turnover of £143m (US$263.7m) for the year to 24 April 2004.
Sainsbury’s, which acquired convenience store chain Bells Stores in February this year, said the Jacksons stores are on average 1,875 sq ft and predominately in neighbourhood locations.
The retail group said Jacksons’ 2,350 employees will remain with the business and added that the Jacksons stores will operate as a separate business.
In its convenience store portfolio, Sainsbury’s currently has 67 Sainsbury’s Locals, 54 Bells Stores, and a further 22 in partnership with Shell UK. The acquisition of Jacksons brings the number of Sainsbury’s convenience stores to more than 250.
“When we announced the sale of Shaw’s, our US supermarket business in March 2004, we indicated that we would use a proportion of the funds to expand further into the convenience sector and this acquisition provides us with a great opportunity to do that,” said chief executive Justin King.
