James Hall & Co. Ltd, the SPAR wholesaler for the north of England, has announced the acquisition of North East Convenience Stores (NECS), a 30-store family-owned chain based in the North East of England.
The Vadhera brothers, Naveen and Sanjeev, who own the business, will remain with NECS as Executive Management with NECS becoming a subsidiary of the James Hall Group of Companies.
Naveen Vadhera, Managing Director of NECS, said: “We are happy to have sold the business to James Hall & Co who completely understand the aspirations and ethos of NECS. We believe the synergies between the two companies will assist NECS as it continues to develop and grow over the next few years. Being fit for the future is the challenge for all retail groups at the moment and we believe that with the support and experience of the James Hall team and the strength of the SPAR brand, NECS will be at the forefront of convenience retailing in the years to come.”
The stores will rebranded to the SPAR fascia over the coming weeks with a number of new stores planned to open later in the year. Sanjeev Vadhera, Financial Director of NECS commented: “Although there is a change of ownership, it’s strictly business as usual at NECS.”
Andrew Hall, Managing Director of James Hall & Co, added: “We are delighted to have acquired such a successful and fast moving business and we welcome Naveen, Sanjeev and the 400 employees of NECS into the James Hall Group.”
James Hall & Co currently serves over 600 stores in the North of England.
- Presumably this will result in extra financial backing and increased buying power?
- …leading to realising full potential of NECS
- Time for NAMs to climb aboard?