Bestway Cash & Carry, founded in 1976 by Sir Anwar Pervez, has grown to a company with thirty-one outlets across UK. In addition to grocery wholesaling, the Bestway Group operates across a diverse range of activities including property investment & management, rice milling, cement production and banking. Bestway is one of UK''s largest independent companies with a turnover exceeding £ one billion per annum.
Batleys plc has eighteen depots with its head office in Leeds and annual turnover of £ 576 million. The company was founded by late Lawrence Batley OBE, who opened Britain''s first cash & carry depot in Huddersfield in 1958.
The combination of these two businesses will create a national champion capable of competing well in a highly competitive market. The enlarged business will be the second largest cash & carry operator in Great Britain with annual sales of over £ 1.6 billion. It will trade from 49 warehouses covering over 4.9 million square feet and will be focused on providing the best range of products at the best prices and with the best service to independent retailers and caterers. It will be providing employment to over 5,000 people.
Both Bestway and Batleys believe that this merger is commercially and financially logical. The locations of Bestway and Batleys depots are highly complementary. Bestway''s focus is originally in the London areas while Batleys is focused in the north of England. The opportunity to combine Batleys'' operations with Bestway would make a great fit and create a dynamic force in UK food wholesaling.
Bestway''s Board believes that the Batleys brand name and level of service are an important asset that is to be retained and built upon. Therefore, it is intended that none of Batleys depots shall be re-branded nor would the operational structure be changed to mirror that of Bestway.
Len McCormick, John Tobin and Martin Race will continue as directors of Batleys, Sir Anwar Pervez OBE, Younus Sheikh, Zameer Choudrey and Rizwan Pervez have been invited to join the Batleys Board. The other directors of Batleys will stand down from the Board.
Sir Anwar Pervez OBE, Chairman of Bestway Group said, "I am confident that his merger will be beneficial to both companies as they both enjoy the same heritage of being privately-run family business and therefore share the same values and commitment to customers service and growth in the independent retail and catering market."
Bestway was advised by Rothschild and Lovells for this transaction. HSBC who were the bankers to both Bestway and Batleys have also arranged the financing for this acquisition.-PR