Grocer's push into the c-store market continues apace
Sainsbury's has acquired a third convenience store retailer, JB Beaumont. The East Midlands convenience store retailer operates six stores, ranging from 2,220 sq ft to 5,100 sq ft (205 sq m to 475 sq m). It has net assets valued at£1.2 million and reported a turnover of£13 million in the financial year ended May 29. It is understood that Sainsbury's paid around£7 million for the chain.

The acquisition comes on the back of Sainsbury's takeover of Bells Stores and Jacksons in February and August respectively. The latest deal boosts Sainsbury's convenience store portfolio to 260 stores. The grocer claims that this represents 2 per cent of the c-store market.

The six shops will operate as a separate business and be run by the existing management team. Sainsbury's managing director of convenience Jim McCarthy said: 'We are delighted that we have been able to acquire JB Beaumont and increase our presence in the East Midlands. It has quality stores in good locations, and it fits perfectly with our convenience strategy to grow our portfolio of neighbourhood convenience stores.'