Bestway says Costcutter takeover will deliver ‘clear benefits’ for stores

Bestway has told Costcutter retailers it is to use the combined power of the pair to help deliver benefits for both stores and stakeholders.

Last week, Costcutter retailers across the UK participated in the regional conferences outlining the symbol group’s upcoming strategy and how it will be affected by Bestway’s takeover, which is still subject to the Financial Conduct Authority’s approval.

A virtual meeting for Simply Fresh retailers is due to be held on 4 February. One Costcutter retailer in attendance, who asked not to be named, claimed: “Bestway mentioned it is going to negotiate pricing.

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“For example, it will buy a certain amount here, a certain amount there and discuss cost.

“It also said the Costcutter brand and its retailers will be left alone and nothing will be changed. Costcutter will remain as Costcutter and Best-one will remain as Best-one.”

When asked about details of information shared in the roadshows, Costcutter and Bestway declined to comment. However, a Bestway spokesperson said there were no plans to use group revenue to renegotiate Costcutter wholesale prices. “As part of the second largest servicer of independent stores, there will be synergies and clear benefits for both stores and suppliers,” they added.