Harry Tuffins has become the second family-owned chain in three months to be snapped up by the cooperative movement.
The supermarket chain, which was established in 1955 and had 10 stores across Powys, Flintshire, Shropshire and Gloucestershire, was acquired by Midcounties Co-operative Society this week for an undisclosed sum.
Tuffins was 23rd in The Grocer’s Top 50 ranking of independent grocery retailers, with sales of £68m and profits of £617,000 in the year to 31 January 2011. It was a well-respected business and had been a member of Nisa for 30 years.
“We have been trading very well and therefore were being noticed, so consequently we were approached,” said Tuffins MD Paul Delves.
“Midcounties shares our sense of community and will continue with the local fundraising Harry Tuffins has championed. I am very sad to end my relationship with Nisa and wish them the very best for the future.”
Nisa CEO Neil Turton said Tuffins represented just over 1%, or £16m, of Nisa’s £1.52bn turnover so “does not have material impact on our volumes, business, or our future health”.
The acquisition is the first in the Top 50 for Midcounties since 2007 when it snapped up three chains – Stars News, Chalfont Foodhalls and Rusts. It follows The Co-operative Group’s acquisition of Scottish indie David Sands in January.
Tuffins’ water bottling plant, Montgomeryshire Natural Spring Water, and the country park at its Churchstoke HQ were not part of the deal.
No comments yet