Marks and Spencer is to extend its Simply Food format by acquiring 28 stores on a leasehold basis from Iceland Foods.
It is expected the £38m transaction will complete in March.
The stores, which average 5,000 sq ft, will be refitted and reopen between June and August this year.
There are currently 143 Simply Food stores in the UK, Republic of Ireland and the Channel Islands.
These include 40 franchise stores in railway stations, Heathrow airport, motorway service areas and petrol station forecourts.
Ian Dyson, Finance Director, at M&S said: “We are delighted to have acquired these sites which will enable us to accelerate the growth of our very popular and profitable Simply Food concept.”
The management and sales staff currently working in these stores will be transferred to Marks & Spencer through TUPE.
The new Simply Food stores being acquired are in the following areas: Belfast Upper Newtownards Road, Bicester, Biggin Hill, Braintree, Caversham, Christchurch, Cirencester, Coleraine, Devizes, Durham, Edinburgh, Hazel Grove, Hertford, Honiton, Market Harborough, Morpeth, Newtownards, Northallerton, Oadby, Ormskirk, Palmers Green, South Woodford, St Neots, Sudbury, Tewkesbury, Cleveleys, Torquay and Trowbridge.
References: EGi News 17/01/06
