Dhamecha is to buy Hyperama‘s cash and carries in West Bromwich and Nottingham, industry sources have confirmed.
The sources, who asked not to be named, told Better Retailing that Dhamecha is in the advanced stages of completing the deal. It will add to Dhamecha’s existing warehouses in Barking, Birmingham, Croydon, Enfield, Hayes, Leicester, Lewisham, Leyton, Watford and Wembley. Foodservice wholesaler Holland Bazaar had notably acquired Holland Bazaar’s Peterborough site in October.
In separate accounts filed for the 31 January 2022, Hyperama confirmed it was in the process of selling sites in West Bromwich and Nottingham, while closing its Bring Me Drink online alcohol delivery service.
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In the statement Hyperama said: “The group has experienced a challenging year, with the ongoing increases in supply chain and freight costs. This has resulted in the group breaching its covenants during the year. The ongoing economic volatility has impacted upon the group’s post-year end results and has resulted in the directors re-assessing the group’s strategic aims, including a review of each division to assess its overall contribution to the group and to implement efficiencies and streamline costs.”
The statement added that the sale of the cash and carry sites was to help overall profitability and cash generation of the group.
Turnover for the period remained flat at £141m as did its gross profits of nearly £17m for the year.
A Hyperama spokesperson said the company could “neither confirm nor deny” the sale of the two remaining depots. Dhamecha has been approached for comment.
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