Blakemore buys Capper & Co for £40m
Page 8
If you've noticed an error in this article please click here to report it so we can fix it.
OWN-ACCOUNT operator AF Blakemore & Son has become the largest UK SPAR franchisee via its acquisition of distributor Capper & Co for £40m.
Willenhall-based AF Blakemore services 664 stores and holds an O-licence for 373 vehicles as well as 279 trailers at 13 depots, and will be bolstered by Pontyclun, Wales-based Capper’s O-licence for 86 vehicles and 75 trailers.
Some 2,418 Capper staff will join AF Blakemore’s 5,572strong workforce to serve 1,096 stores. The firms have a combined turnover of £1.1bn.
Peter Blakemore, MD of AF Blakemore, says: “We are similar companies that already have a shared set of history and a common set of values. The two businesses currently operate in regions adjacent to each other and this will allow for many benefits to be realised, particularly in trading and distribution.” Capper will trade as an AF Blakemore subsidiary, with chairman Bill Capper and MD Robert Upton joining the Blakemore board of directors.
Finance was provided by Lloyds Bank Corporate Markets and Barclays Corporate.