Haldanes announce replacement discount retail chain for Netto stores

Netto store in Wavertree, Liverpool

The Haldane Retail Group has announced the acquisition of 20 new supermarkets situated predominantly along the M62 corridor. These supermarkets currently trade as Netto and are disposals by Asda from their much publicised acquisition of Netto Stores (UK) which was announced last year.

This acquisition will allow the Haldane Retail Group to introduce a new brand to the mid size discount grocery sector under the name of UGO (pronounced You Go) with a trading logo of “UGO...where the prices are low”.

The new value branded UGO stores, will build on the discount retailing strengths of Netto but will also have stronger and broader core grocery range together with a much wider health & beauty offer.

Entrepreneur and sole shareholder of The Haldane Retail Group, Arthur Harris enthused “UGO will be a flexible, friendly and approachable company with old fashioned ideas and ethics reconstructed where necessary to encompass a modern trading format.

“There is an opportunity in the mid size discount supermarket sector to do something special and I think UGO, with its established store teams, is the brand that can do it.”

The 20 new UGO stores, currently still trading as Netto, stretch from Northumberland to Warwickshire, with branches in Ashington, Hartlepool, Burnley, Bradford, Hull, Blackburn, Barnsley, Bury, Doncaster, Rotherham, Liverpool and Nuneaton.

A year ago the trade press quoted Haldanes as being “brave opening the first new supermarket fascia for over 30 years”, a year on and the group now have 23 operating stores. The latest acquisitions mean an expansion of nearly 100 per cent for the Lincolnshire-based firm.

In addition to the Netto acquisitions, Haldanes are also in advanced discussions to acquire eight convenience stores and have already acquired one petrol forecourt plus a convenience store with a post office.

All of the convenience and forecourt stores will be branded under the Haldanes Xpress fascia, taking the Haldane Retail Group up to three distinctive brands.

Arthur Harris, has relinquished his position as Chairman to become full time Chief Executive Officer of the group.

In addition, the board has been strengthened by the appointments of two key senior personnel, Adam Hart - Non Executive Chairman and Kristoffer Getchell – IT Director.

Commenting on the appointments, Arthur said: “I am pleased to have been able to secure the services of both Adam and Kris. I feel certain that with Richard Collins as Chief Operating Officer, Chris Laud as Group Finance Director, Stuart Eaton as Property Director and Steve Back as Non Executive Director, I am working with the most experienced team I could possibly have.

I would also like to thank our suppliers and in particular our key supplier NISA for their continued support over the first year”.

The Haldanes Retail Group Limited will continue to be operated as a family business and is proud of the fact that it has no bank borrowings or outside investors.

The Haldane Retail Group has been represented in this transaction by:

Lawyers - Nabarro of London

Property - William Property Consultants of Wetherby

Accountants - Hurst Morrison Thompson of Henley-on-Thames.

The Office of Fair Trading (OFT) have given clearance for this acquisition to go ahead subject to a final public consultation period which expires on 2nd February 2011.

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