UK supermarket group J Sainsbury has announced the acquisition of SL Shaw Ltd, a neighbourhood convenience store operator with five stores in the south east of England.
For the financial year ended 31 May 2004, SL Shaw’s turnover was £11m (US$21.0m) and the value of net assets acquired was £0.4m, the company said, adding that all 227 members of staff will be offered jobs with Sainsbury’s.
After a programme of refurbishment, the five stores will convert to the Sainsbury’s Local format. The five Shaws Supermarkets are located in Camberley, Stanwell (Middlesex), Chessington, Woking and Maidenhead.
“We are delighted that we have been able to acquire these five stores and bring the Sainsbury’s convenience shopping experience to more customers in the south east of England. These are quality stores in good locations and they fit perfectly with our commitment to grow sales in our convenience business by £400m by the end of 2007/08,” said Jim McCarthy, managing director of convenience at Sainsbury’s.
Sainsbury’s now has 262 convenience stores in its store portfolio.