BTTF buy Kwik Save brand and stores
Bracknell – February 28, 2006 – On 27 February 2006 the Somerfield Group announced that, following a review of business activities, Kwik Save has been sold. Somerfield Group will now focus their resources and investment exclusively on the Somerfield brand with the aim of becoming the UK’s leading convenience and market town store operator.
BTTF (Back to the Future), a new company specifically set up to operate Kwik Save, has purchased 171 Kwik Save stores. BTTF is being headed up by the Chief Executive of Peacocks and will continue to trade the Kwik Save brand. IRI has contacted BTTF to establish the impact of this announcement and is awaiting a response.
IRI can so far confirm:
- 171 stores have been sold to BTTF.
- Somerfield will retain 102 stores which will be re-branded to Somerfield by the end of the year.
- 111 stores will be sold to developers and/or closed. So far 42 of these stores have been sold to other retailers which IRI believes includes Aldi, Lidl and Waitrose.
- IRI believes all stores were closed on Monday to enable communication and implications on staff to be implemented.
- All of the stores, excluding those to cease trading, should now be back open but our access will depend on what is happening with each of the stores.
IRI has requested the following information from the Somerfield Group to ensure that the impact of this announcement on our services can be proactively managed and communicated:
- A list of stores and what is happening to each of them (this has been received and IRI are currently reviewing)
- The impact on currently subscribed ad hoc services and causal sample
- Confirmation of named account data (NAD) implications
- BTTF have been contacted and we await feedback
This is new information to IRI, Somerfield HQ, store employees of Kwik Save and suppliers. The Somerfield Group is working hard to respond with the information IRI has requested.
IRI appreciates that this may not address all your questions but this is the only information that we can disclose at this time. As soon as we have further information we will provide feedback of the implications to our services.
If you have additional questions please contact your account representative who will provide additional information as soon as it is available.
For more information please contact:
Louise Hocking
E-mail: Louise.Hocking@infores.com
Phone: +44 (0)1344 746004
Kirsty Harris-Clarke
E-mail: Kirsty.Harris-Clarke@infores.com
Phone: +44 (0)1344 747939
About Information Resources, Inc.
Information Resources, Inc. (IRI) is the world’s leading provider of enterprise market information solutions and services, empowering its clients to grow their business profitably in a complex marketplace. Driving the transformation of the consumer packaged goods (CPG), retail, and healthcare industries, only IRI provides a unique combination of real-time market content, advanced analytics, enterprise performance management software, and professional services. The company’s portfolio of services, solutions, and technology enable leading retailers and their suppliers around the globe to see what they are missing, act faster with greater confidence and win at the shelf. Ninety-five percent of the FORTUNE Global 500 in CPG and retail leverage IRI to power their business. For more information, visit www.infores.com.