Morrisons has today acquired 38 stores in the Channel Islands from long term partner SandpiperCI.
The deal will include Jersey and Guernsey stores currently trading under the following fascia: Morrisons Daily, Iceland, Checkers Xpress and Le Cocq’s in Alderney. The transaction also includes six fuel forecourts. The deal does not include the Marks & Spencer Jersey business which will remain part of the SandpiperCI Group.
The stores are located on the islands of Jersey, Guernsey and Alderney and in the last 12 months the stores being acquired had a turnover of £124.5m, or £118.9m excluding fuel. The transaction will be subject to Channel Islands’ regulatory authorities and is hoped to be completed by July 2024.
Morrisons’ relationship with SandpiperCI dates from 2018 when the two companies signed a long-term franchise and wholesale supply agreement. Since then 19 SandpiperCI stores have been converted to the Morrisons Daily format.
Under the terms of the transaction c. 520 SandpiperCI store, operations and managerial staff will become Morrisons colleagues. The business will be managed by Joseph Sutton, Morrisons Convenience, Online and Wholesale Director and his team which includes Miles Foster, the Convenience Operations Director.
Morrisons has approximately 1,600 convenience stores across the UK, of which c.600 are franchise stores.
Rami Baitiéh (shown in the main picture), Morrisons Chief Executive, told Channel Eye: “We have had a solid and successful supply and franchise partnership with SandpiperCI and we have a strong relationship with the business. I look forward to welcoming 520 more colleagues into the Morrisons family, together with 38 popular and well-located convenience stores.
“Our convenience business is now well set and growing rapidly. The addition of a further 38 stores will bring us another opportunity for growth and a strong position in the important Channel Islands’ convenience market.”
Sandpiper say they anticipate that all store-based colleagues will transfer over to Wm Morrison Supermarket Limited as part of the disposal. Some redundancies may occur in back-office roles, and Sandpiper will be consulting with affected staff members over the coming weeks.
