Parfetts is awarding its workforce a maximum 4% sales bonus following a record-breaking year in which the employee-owned wholesaler saw its turnover increase from £696m to £733m.
The business, which has grown turnover 93% over the past six years, now supports over 1,650 retailers across the UK from its eight depots. And with more than 300 new stores planned to join in its new financial year, the group noted that it is on track to become one of the leading forces in the convenience sector.
Alongside growth at its new Birmingham depot and the launch of several initiatives, such as its Shop & Go and The Local fascias, the company recently confirmed that it will open a new site in Southampton later this year. The move will strengthen Parfetts’ national credentials, giving retailers in the south of England access to its offer.
The company noted that it continues to focus on “delivering real value” to independent retailers through a twin strategy of own-label development and promotions that drive sales and deliver strong margins. Its own label range now spans more than 200 lines.
Additionally, Parfetts said its partnerships with suppliers underpin its promotional programme, which includes regular daily deals, Go Local three-weekly promotions, supplier takeovers, and regular seasonal trade weeks. The group noted that its Big Ticket initiative has also proven popular with suppliers and retailers, enhancing margins and driving footfall through campaigns, depot activations, and in-store takeovers.
Meanwhile, Parfetts revealed that it is closing in on its target of 2,000 symbol stores across its Go Local network and expects its turnover to surpass £1bn in the next three years.
“Our people are the heartbeat of Parfetts,” said joint Managing Director Guy Swindell. “It’s their hard work, passion and commitment that fuels our growth. The employee ownership model gives us a powerful platform to reward that effort, attract great talent and deliver the best service to our retailers.”
The sales bonus comes in addition to a 12% profit share bonus paid last year, with another profit share distribution planned for later in 2025.
Noel Robinson, joint MD, concluded: “It also means we invest more back into margins for our customers as we have no shareholders to pay, so everything we make is invested in the business and our customers’ businesses.”
NAM Implications:
- Looks like a win-win for employees and customers.
- With surplus invested in expanding capacity and reach.
- Rivals, please note…
