Costcutter acquires 20% stake in Simply Fresh
Simply Fresh was launched in 2009 by Kash and Sukhjit Khera with the aim of introducing a premium, fresh offering to the UK market.
This investment formalises a previous agreement with Simply Fresh stores placing orders through Costcutter's head office with distribution provided by Palmer & Harvey.
Simply Fresh expects to have 60 stores trading by the end of 2014.
The new investment from Costcutter will help to develop the banner further to more than 300 stores in the next five years.
Commenting on the new agreement, Kash Khera, managing director of Simply Fresh said: "Having worked with Costcutter Supermarkets Group for a number of years, it is clear to see that we have the same goals and we are very much looking forward to developing our existing relationship as part of this new partnership.
With access to its infrastructure and the full support of its team we can continue the growth and strategic development of the business at a much quicker rate than we could have done on our own."
Source: European Supermarket Magazine
