Randalls holding company sold to CI retailer
THE CHANNEL Islands' largest retailer has announced that it will buy the entire share capital of The Guernsey Pub Company Ltd, which is the holding company of Randalls of Guernsey.
Executive chairman of SandpiperCI Tony O'Neill said when Sandpiper was listed on the International Stock Exchange at the end of May 2019, it was indicated that the company intended to accelerate the growth of business by looking at opportunities in adjacent consumer facing sectors.
'We now have around 200 local investors and this acquisition represents our first major investment as a listed entity.'
The acquisition is subject to clearance by The Channel Islands Competition and Regulatory Authorities (CICRA) and it is hoped to conclude by the end of next month.
'Randalls of Guernsey is well known to Bailiwick residents as it operates its own brewery and 20 pubs and hotels across the islands of Guernsey and Sark,' Mr O'Neill said.
'The company also operates the duty free outlets at Guernsey and Alderney airports.
'The organisation is well managed and will complement our existing retail operations.'
There are ongoing plans in management to continue the development of the business and Sandpiper said it is looking forward to working with them to further and enhance performance.
SandpiperCI Group Ltd already operates a string of high street franchises in Guernsey and Jersey, employing more than 1,100 people. Brands include Morrisons Daily, Iceland, Cornish Bakery and Costa.
No redundancies are expected as a result of Sandpipers' acquisition.
- More in tomorrow's Guernsey Press.