Scotland’s highest profile independent retailer Eddie Thompson has sold his 50-store Morning Noon & Night chain to Scotmid in a deal worth almost £30m.
Thompson founded the c-store chain in Dundee 12 years ago and built it up to become a £50m turnover company, ranked 24 in The Grocer Top 50, with operating profits of £1.8m and employing more than 800 staff.
Colin Bird, chief executive of Scotmid said: “This is one of the most significant retail deals concluded in Scotland and will bring the Scotmid name into areas of Scotland where we did not have a presence.”
The deal follows just a month after Scotmid bought the 13-store Spar chain SCS and takes its store total in Scotland to 265.
Thompson commented: “I will now have additional time to spend on my other interests. Apart from being chairman and owner of Dundee United I am also chairman of the Scottish Retail Consortium and on the boards of the Scottish Retail Consortium, British Retail Consortium, Scottish CBI Council and I also represent Scottish retailers on other matters.
Thompson founded the c-store chain in Dundee 12 years ago and built it up to become a £50m turnover company, ranked 24 in The Grocer Top 50, with operating profits of £1.8m and employing more than 800 staff.
Colin Bird, chief executive of Scotmid said: “This is one of the most significant retail deals concluded in Scotland and will bring the Scotmid name into areas of Scotland where we did not have a presence.”
The deal follows just a month after Scotmid bought the 13-store Spar chain SCS and takes its store total in Scotland to 265.
Thompson commented: “I will now have additional time to spend on my other interests. Apart from being chairman and owner of Dundee United I am also chairman of the Scottish Retail Consortium and on the boards of the Scottish Retail Consortium, British Retail Consortium, Scottish CBI Council and I also represent Scottish retailers on other matters.
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