B&M Retai

B&M Bargains plans to more than double the size of its estate in the coming years, The Grocer has learnt.

The variety discounter, which currently has 373 stores, primarily in Northern England, has ambitions to grow its estate to 800 stores. It plans to continue opening up to 50 new stores a year and increase its focus on the South, where this year it is set to open 10 to 15 stores in locations including Yeovil, Dagenham and Abingdon.

It is also understood to be considering opening a new 800,000 sq ft distribution centre in Southern England that would come on stream in 2017.

Retail parks could form a significant part of B&M’s growth strategy, according to a new report. Trevor Wood Associates revealed B&M Bargains increased floorspace by 48% to 2.28 million sq ft in 2013, having quadrupled its retail park floorspace over the past four years.

In February, B&M hired investment bank Lazard to prepare an IPO and it is also set to expand outside the UK for the first time with the imminent acquisition of discount German chain JA Woll Handels.