LANCASHIRE-based SPAR wholesaler James Hall and Co has sets its sights on future growth after buying North East Convenience Stores.
NECS is a 30-store family-owned chain employing 400 people based in the North East of England.
Preston-based James Hall and Co Ltd is a Lancashire-based family owned business, which was founded in Southport in 1863 and now serves over 600 stores in the North of England.
The Vadhera brothers, Naveen and Sanjeev, have agreed to a sale of their 30-store group but are also pleased to announce that they will remain with NECS as Executive Management with NECS becoming a subsidiary of the James Hall Group of Companies.
Andrew Hall, Managing Director of James Hall and Co Ltd, commented: “We are delighted to have acquired such a successful and fast moving business.
“And we welcome Naveen, Sanjeev and the 400 employees of NECS into the James Hall Group.”
Naveen Vadhera, Managing Director of NECS, said: “We are happy to have sold the business to James Hall and Co who completely understand the aspirations and ethos of NECS.
“We believe the synergies between the two companies will assist NECS as it continues to develop and grow over the next few years.
“Being fit for the future is the challenge for all retail groups at the moment and we believe that with the support and experience of the James Hall team and the strength of the SPAR brand, NECS will be at the forefront of convenience retailing in the years to come.”
The Manchester office of law firm Shoosmiths acted for James Hall.
Shoosmiths advised on the entirety of the deal, supporting on all corporate and real estate aspects of the transaction.
The corporate team was led by Karen Procter, partner who was assisted by Damien Brown, senior associate and James Skivington, solicitor.
Real estate advice was led by Andrew Pattinson, with support from Garry King, senior associate, Helen Poulter, solicitor and Neil Bradley, associate.