2nd Aug 2006 11:00
Sainsbury(J) PLC02 August 2006 2 August 2006 SAINSBURY'S ACQUIRES STORES FROM SOMERFIELD Sainsbury's has agreed to acquire four stores from Somerfield with an averagesize of 20,000 sq ft. Darren Shapland, Sainsbury's chief financial officer said, "At the preliminaryresults in May 2006, we indicated we were actively seeking new sites toaccelerate our store development programme under the leadership of our propertydirector Peter Baguley. This acquisition is an example of the opportunitiesstarting to emerge and we will continue to look for new sites across the UK. "We are also delighted to be introducing Sainsbury's products and services tonew areas and customers as well as welcoming around 300 new colleagues toSainsbury's." It is anticipated that these stores will be earnings enhancing in their firstfull year of operation. All four sites will reopen as Sainsbury's supermarkets in the Autumn and allcolleagues employed at the Somerfield stores will transfer to Sainsbury's underTUPE regulations. In a separate transaction Sainsbury's has also acquired a 35,000 square footfood focused store in Urmston, Manchester. It is part of a major town centreredevelopment and expected to open in 2008. For enquiries: Investor Relations MediaLynda Ashton +44 (0) 20 7695 7162 Pip Wood +44 (0) 20 7695 6127 Notes 1. Store locations sales area (sq ft) Bodmin, Cornwall 22,000 sq ft Canvey Island, Essex 23,000 sq ft Sleaford, Lincolnshire 15,900 sq ft Northallerton, North Yorkshire 19,300 sq ft 2. Sainsbury's currently has 756 stores in total: 455 supermarkets and 301 convenience stores This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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