29th Apr 2005 08:00
Sainsbury(J) PLC29 April 2005 29 April 2005 Sainsbury's announces acquisition of convenience store operator Sainsbury's today announces that it has acquired SL Shaw Ltd, a long establishedneighbourhood convenience store operator with five stores in the south east ofEngland. All 227 members of staff will be offered jobs with Sainsbury's. For the financial year ended 31 May 2004, SL Shaw's turnover was £11 million andthe value of net assets acquired was £0.4 million. After a programme of refurbishment, the five stores will convert to theSainsbury's Local format, combining Shaw's excellent reputation and customerservice with Sainsbury's expertise in fresh and convenience foods. Jim McCarthy, managing director of convenience at Sainsbury's said, "We aredelighted that we have been able to acquire these five stores and bring theSainsbury's convenience shopping experience to more customers in the south eastof England. These are quality stores in good locations and they fit perfectlywith our commitment to grow sales in our convenience business by £400 million bythe end of 2007/08." Enquiries: Investor Relations MediaLynda Ashton Gillian Taylor /Parveen Johal+44 (0) 20 7695 7162 +44 (0) 20 7695 7295 Ends Notes 1. There are 55,000 convenience stores in the UK, a market worth £23bn,which grew at 7.3% last year. Sainsbury's has approximately 2% of theconvenience market. 2. The five Shaws Supermarkets are located in Camberley, Stanwell (Middx),Chessington, Woking and Maidenhead. 3. All 227 members of staff will be offered employment with Sainsbury's. 4. Sainsbury's now has 262 convenience stores in its store portfolio. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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