Costcutter Supermarkets Group is one of the leading convenience retailers in the UK with around 1,400 stores. It was founded in 1985 by Colin Graves and has remained owned by his family and their trusts.
PPCF structured a tax efficient financial reorganisation that realised value for shareholders whilst concentrating the equity in the hands of the management team. Financing was provided by HSBC. Subsequently strong trading has allowed a further refinancing with debt provided by Kaupthing.
PPCF acted as lead advisor to Costcutter on the sale of a 51% shareholding to Bibby Line Group Limited. The deal further strengthens the relationship between Costcutter and NISA Today who are their largest customer and Bibby who provide all the ambient distribution for NISA. The transaction also meets the objectives of the shareholders of continuing to participate in the ongoing success of the business.
