Sales at AF Blakemore declined 4.6% to £1.2bn for the year ending 28 April 2024, after it lost a major supply deal with EG Group to Asda.
The Spar wholesaler, along with the symbol group’s other RDCs such as James Hall and CJ Lang, had been supplying EG Group’s forecourt stores for years, but was stripped of the arrangement when the business divested most of its UK network to Asda in October 2023.
In its latest accounts at Companies House, AF Blakemore reported sales down by 4.6% to £1.2bn ”as one of our largest customers switched their forecourt stores to their own brand, and with the decline of the immediate convenience market in the UK.”
Spar, however, has maintained its supply deal with the 34 sites that EG Group retained from the £2bn sell-off to Asda. These were acquired by Zuber Issa in November 2024, which subsequently saw the establishment of his own forecourt operation EG On The Move.
EG On The Move also recently announced the acquisition of Applegreen’s 98 UK petrol filling stations, bringing the estate to almost 150 sites.
“This means a revival of the Spar partnership with the commencement of AF Blakemore supply into a number of their new-format stores during 2025,” said an AF Blakemore spokeswoman.
Despite a sales decrease, AF Blakemore said positive actions on high-margin categories and cost control meant adjusted EBITDA increased by 52% from £19.3m to £29.4m.
This was boosted by ongoing investment in vapes, Prime drinks, and MrBeast chocolate, alongside its owned food brands including Country Bridge Meats, Harriet’s Bakery, and Philpotts food to go. The in-store customer experience was elevated with a digital-first approach incorporating ESLs and digital screens across the company-owned estate, AF Blakemore added.
Significant investments were also made in energy-efficient technology, including the introduction of four electric HGV trucks into the AF Blakemore fleet.
AF Blakemore chairman Peter Blakemore thanked colleagues for their approach and commitment to the company. He also expressed his ”confidence in the focus and energy the new CEO, Carol Welch and her senior leadership team have brought to the business”.
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