Cheltenham-based, Top 200 law firm BPE Solicitors has acted for the award winning, Cotswolds-based food retailer, Warner’s Budgens on their recent decision to sell to The Midcounties Co-operative.
Warner’s Budgens, the family owned, independent supermarket chain was established in 2006. Guy Warner, Owner and Director of Warner’s Budgens opened his first supermarket in Broadway and went on to open three more supermarkets and two petrol forecourts over the years. The supermarket prides itself on providing high quality produce and supporting local producers.
The Mid-counties Co-operative is the UK’s largest independent Co-operative and shares many of the same values as Warner’s Budgens. The acquisition helps the Co-operative to expand its presence throughout the Cotswolds.
The deal, due to complete towards the Summer, sees The Mid-counties Co-operative take over four of Warner’s Budgens stores; in Bidford-on-Avon, Broadway, Moreton-in-Marsh and Winchcombe. Guy Warner will retain ownership of the four properties and will continue to develop the existing Warner’s Budgens petrol forecourt businesses.
Led by Partner Dale Williams, BPE’s Corporate Team oversaw the transaction and sale of the four stores, with assistance from BPE’s Commercial Property and Employment teams; securing property ownership and ensuring the successful TUPE over of approximately 200 staff.
Dale commented, “Warner’s Budgens is a prime example of a business that is thriving; to grow and expanded an impressive amount in a relatively short space of time, whilst keeping to its core values is something to celebrate. Selling part or all of your business that you have grown over a number of years isn’t always easy. However, it allows business owners like Guy to focus on new business ventures whilst knowing that their previous investment is being well looked after.”
Guy Warner commented, “This sale not only secures the future of the stores but also continues to provide our loyal and new customers with a wealth of locally sourced produce. BPE have been invaluable throughout the whole process. There are a number of, at times, complex aspects to selling a portion of your business, but BPE brought clarity and guidance to ensure that proceedings were as straightforward as possible. Dale, Jo and the teams were brilliant throughout and helped ensure this deal got over the line without a hitch.”