United Wholesale (Scotland) has announced the acquisition of M9 Cash & Carry in Falkirk. Set to be completed this month, the Glasgow-based firm says the acquisition provides an established platform for the cash and carry operator to expand its reach across Central Scotland.
The move aligns with United Wholesale’s move into Edinburgh, where it has acquired the 68,000 sq ft Terston House close to the city’s airport.
UWS’ growing footprint includes two further sites in Glasgow, at Maxwell Road and Queenslie. The group also has an expanding symbol operation under both the Day Today and U-Save banners, which has reached 275 and 150 stores respectively.
Managing Director Asim Sarwar said: “The acquisition of M9 Cash & Carry represents a key phase in our strategy for growth. It is a well-established operation with a strong customer base and we will be looking to grow sales from the site by 50% in the next 24 months.”
Sarwar added that the move complemented its existing portfolio and will also act as the perfect launch-pad for the opening of the Newbridge Depot in Edinburgh, “providing greater reach and infrastructure to meet the demands of our customers across Scotland.”
United Wholesale announced the acquisition as it reported a £10m rise in turnover during the past financial year. Turnover was up to £222m for the year-ending 31st December 2014. Pre-tax profit remained steady at around £2.03m.
United has delivered this strong performance during a period of continued investment and expansion for the business. This included the extension of its flagship Maxwell Road depot to include licensed products in August 2014.
Staff numbers have grown to 240 to support the growth, and there has been ongoing investment in its symbol group which continues to perform well amidst a competitive retail landscape.
Sarwar added: “We are very pleased with the recent financial performance as we make investments which we believe will deliver long-term sustainable growth. Our core objective has been always to support our customers in what continues to be a very challenging economic climate.
“By having our customer at the heart of our strategy, we have been able to deliver aggressively on price, ensuring they can compete with supermarkets and larger retailers.”
Sarwar concluded by saying that the company’s objective will be to continue to develop this model and customer proposition as it expands operations across Central and East Scotland.
