One Stop, a convenience chain run by UK retail giant Tesco, is to acquire 77 stores from English retailer Mills as part of its long-term plan to grow its business.
The acquisition will bring the number of One Stop stores to 598 across England and Wales, Tesco said today (16 December).
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The deal is conditional upon regulatory approval and is expected to complete in spring 2011. Following the deal, One Stop will account for around 1.2% of the approximate 50,000 convenience stores in the UK, according to IGD.
David Turner, CEO of One Stop, said: “We’ll be investing in refurbishing the stores, creating an even better shopping experience, as well as bringing down prices”
Mills is a group of privately-owned companies that operate stores in the north east of England, Cumbria, Yorkshire, the Midlands and south Wales.
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