Costcutter Supermarkets Group is one of the leading convenience retailers in the UK with around 1,400 stores. It was founded in 1985 by Colin Graves and remained owned by his family and their trusts.
PPCF structured a tax efficient financial reorganisation that realised value for shareholders whilst concentrating the equity in the hands of the management team. Financing was provided by HSBC. Subsequently strong trading has allowed a further refinancing with debt provided by Kaupthing.
PPCF acted as lead advisor to Costcutter on the sale of a 51% shareholding to Bibby Line Group Limited with an agreement for the remaining 49% to be acquired after five years.
PPCF continued to advise Costcutter on strategic options and has provided acquisition advisory services which included lead advice on transaction structures and financial due diligence on a range of acquisitions.