FOODSTUFFS BUYS THE MILL’S LIQUOR STORES

Liquor store

Photo source: Stuff.co.nz

Foodstuffs is set to extend its liquor empire. The supermarket co-operative, which already bought Liquorland in 2008, has just signed a sale and purchase agreement to acquire 21 liquor stores from The Mill Retail Holdings.

Although the details of the deal are yet to be finalised, managing director of Foodstuffs Steve Anderson confirmed that The Mill’s stores throughout the country will join the Liquorland franchise. Prior to that, Anderson precised, a number of conditions are still to be met as part of the due diligence process. “Once these conditions have been satisfied, we will be in a position to provide more information”, he said.

The Mill opened its first stores in Taranaki over 20 years ago and, according to its website, has been able to spread its network throughout New Zealand thanks to “a simple formula of supplying products that our customers demand, reducing prices over a huge range of liquor brands, and employing friendly and knowledgeable staff.”

Foodstuffs managing director guaranteed that no employee will be dismissed. “As part of the sale and purchase process, store staff will be offered contracts of employment to Foodstuffs Liquor New Zealand Limited, which owns Liquorland. The business is simply working through this process,” Anderson said.