Appleby Westward, the southwest-based SPAR retailer and food wholesaler, has completed the acquisition of a SPAR store in Albany Road, Falmouth which had been independently run in the hands of the same family for more than half a century.
“We have long been admirers of this very well-run award-winning store with its excellent trading history and reputation in the town, and when the opportunity to buy it from the Jinks family came up, we did not hesitate to acquire and assist the family in their retirement," said Mike Boardman, Appleby Westward’s Managing Director.
“We co-invested with them four years ago in a major refit of this popular store, including new refrigeration, fixtures and fittings and a complete remerchandising of the whole shop.”
The acquisition brings the total number of company-owned stores now operated by Appleby Westward in the southwest region to 135. The transaction was handled by Taunton-based WT Estates which operates in the petrol forecourt and retail convenience sectors as well as leisure businesses. Managing Director William Trott said: “We are seeing large interest levels from buyers across the southwest for similar businesses, as the market remains buoyant for consistent trading convenience stores and petrol forecourts.”
The Falmouth business was acquired by David and Daphne Jinks in 1967 when it was an ice cream parlour and dairy. They developed it as a SPAR store and sold it on to their son Stephen and his wife Janette 25 years ago. In 2019, a second store was acquired at nearby Stithians and continues to be run as a SPAR store by the family.
![Post Office branches are assets or liabilities? [Exclusive]](https://www.asiantrader.biz/media-library/image.jpg?id=55310585&width=600&height=400)
