Costcutter buys Simply Fresh stake
Costcutter has taken a 20 per cent stake in Simply Fresh, a Birmingham-based convenience sector brand established in 2009 by brothers Sukhjit and Kash Khera.
Since its foundation Simply Fresh has grown steadily and now has 48 members, and will grow to more than 60 by the end of 2014. It is said the new partnership with Costcutter would allow the brand to be developed further. Simply Fresh aims to have more than 300 stores in five years' time.
Now, as a joint partner, Costcutter will add the Simply Fresh fascia to its existing family of brands, in addition to Costcutter, Kwiksave and Mace.
Daniel Quest, retail director for Costcutter, said: "Simply Fresh is an innovative addition to the symbol group sector and complements our existing family of brands, which will help attract and inspire new and existing members.
"It offers a solution for retailers wanting to put increased focus on providing fresh produce for their customers, and we look forward to supporting the future development of this core proposition.
"It is clear to see the growth potential for the Simply Fresh brand and its vision reflects ours, so working together on its future development is a natural next step."
Kash Khera, managing director for Simply Fresh, added: "We have been running convenience stores for many years and, when opening a new store, recognised that there was nothing out there to meet the needs of that specific community.
"We decided to look at creating something of our own in order to do that, and the result was the development of Simply Fresh; which we are very proud of."