Bibby seizes full control of Costcutter

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Transport and logistics giant Bibby Line Group has taken full control of Costcutter.

Bibby bought a 51% stake in the c-store chain in 2007 and revealed in September that is was close to finalising a deal for the remaining stake.

As part of the deal, Bibby has created the new subsidiary Bibby Retail Services, which will be run by Costcutter chairman and founder Colin Graves. Costcutter MD Nick Ivel becomes chief executive of Costcutter.

Bibby called the deal a “great opportunity” and said it was looking at further opportunities to grow the business and realise the potential value of the sector.

“Bibby Line Group will support the Costcutter management team in continuing to put retailers at the heart of the business and ensure that the organisation has the best people to deliver the best support for retailers to maximise throughput in their stores,” the company said in a statement.

Read more
Costcutter’s Colin Graves: ‘Bring on the next 25 years!’ (17 September 2011)
Bibby in line to become sole Costcutter owner (16 September 2011)

Readers' comments (1)

  • Having Worked at Costcutter for a number of years and seen how great Colin Graves was in developing a world class company. I really hope Bibby develop Costcutter into the biggest buying group in Europe, and continue to work for the benefits of its retailers and not under estimate the downside if they fail to grasp what the market is all about. The retailers involved in Costcutter are probably the most focussed and entrepreneurial independent retailers I have ever had the privilege of working with and will not stand for any nonsense.
    Good luck to all concerned. As Colin said in September, “Roll on the next 25 years”

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