MRH today announces it has exchanged contracts and agreed to acquire Top 50 Indies Dealer Chartman Retail as part of its strategic drive to increase its offering across the South West.
Chartman Retail, an Independent Retail Chain of the Year finalist in this year’s Grocer Gold award, owns and operates one of the largest independently owned portfolios of service station forecourts in the South West of England.
The company operates ten service stations located across Devon, Cornwall, Somerset and Dorset, two of which have been shortlisted for the 2017 Forecourt Trader of the Year Awards.
Each site has an on-site SPAR convenience store and the company also owns one stand-alone SPAR store. Fuel is sold under three brands Esso (eight sites), Shell (one site) and Murco (one site).
Sustainable quality growth through acquisition and development have been key to the success of Chartman Retail, with the iconic flagship Winning Post Service Station symbolising the company’s belief that the extra investment made in design, development and operation is key to creating attractive and successful forecourts. Other sites include Bodmin, Tiverton, Bude, Lydford, Winterbourne Abbas, Ottery St Mary, Willand, Hazlegrove, and Oaklands.
The acquisition is another key milestone in achieving MRH’s strategic objectives of widening both the breadth of customer offering and locations where the MRH brand is available.
Corporate Finance advice was provided by the PKF Francis Clark team of Paul Crocker, Nick Tippett (SW Business Insider ‘Young Dealmaker of the Year’ 2017) and Chris Bishop, with James Eveling, Emma Thomas and Keith Biggs from OTB Eveling acting as legal advisors to the sellers.
Clive Sheppard, Director of Chartman Retail, said:
“After 30 years working to establish Chartman Retail within the South West, we are delighted to hand over to MRH, who we know will continue to support our customers. This acquisition also provides our employees with fantastic opportunities to grow their careers. Having worked with Karen for many years, we have no doubt that our customers and employees are in excellent hands.
“CTC Wholesalers, owned by John Hartshorne and Clive Sheppard, will continue its trading activity with Chartman Retail as well as supply products into other MRH operated sites in the future.”
Karen Dickens, Chief Executive of MRH, said:
“I’m delighted to have completed the Chartman Retail acquisition. Not only does it meet our strategic objective of extending our brand to more customers across the West Country, but it also has a strong personal emotional link having known many of these sites as I was growing up and subsequently travelling home to Cornwall. Chartman Retail has developed some fantastic, well-run sites and we believe they have even more potential – especially food service.
“I look forward to continuing to grow MRH in the South West, welcoming the Chartman Retail team into MRH and being an early ‘mystery motorist’ to my local site in Bude.”
Paul Crocker, Partner at PKF Francis Clark, said:
“Since purchasing their first sites in the 1990’s, Chartman has grown into one of the South West’s largest independently owned forecourt retailers. We are delighted to have had the opportunity to assist the shareholders and to have secured a new owner who will continue to invest in the business to ensure it continues to prosper for many years to come.”