Bibby Retail Services has acquired off licence chain Rhythm & Booze.
BRS, which owns Costcutter Supermarkets, has bought 68 stores from administrators Ernst & Young with 425 employees transferring with the business, including managing director Martin Swaine who will retain his current position in the new company.
BRS plans to significantly expand the wholesale side of the business and converting some of the sites into convenience stores.
BRS director Nick Ivel said: “Rhythm & Booze is a very well respected business and one that we have long admired. Under the stewardship of Bibby Retail Services we are confident that we can quickly re-establish its prominence and implement a robust business strategy that will lead to longer-term growth and expansion.
“We are committed to expanding our portfolio of company owned stores and this is an important deal that adds a significant number of new sites to the group.”
Rhythm & Booze founder Martin Swaine said: “Bibby Retail Services are committed to giving the business the support needed to revive its fortunes and I will be working closely with the new owners to ensure an effective integration of the business and to drive it forward into the future.”