One of Jersey’s largest employers - responsible for M&S, Costa, Checkers and Iceland stores in the Island – has been sold to investors in an undisclosed multi-million pound deal.
The management team of Sandpiper have joined a consortium of investors to buy the group from current owners Duke Street and Europa Capital.
Around 1,000 people work for the retail group across a range of brands spanning supermarkets, fast food and clothing. None of the jobs are said to be at risk.
The bid – which has not been disclosed – has been put together by Ravenscroft Limited, and includes Bailiwick Investments Limited, Sealyham Limited and other private clients of Ravenscroft, as well as Sandpiper CEO Tony O’Neill and his management team.
Regulatory approval for the bid is expected to take up to six weeks.
Mr O’Neill said: “This sale marks a significant milestone for Sandpiper. As one of the largest businesses in the islands, serving locals everyday, it seems fitting to be acquired by local people.
“Business will continue as usual and our customers are unlikely to notice any changes.
“Our new Channel Islands based investors plan to continue investment in our retail estate, including extending the range of our numerous franchise brands, benefiting our customers in Jersey, Guernsey and the wider European mainland.
“I would like to pass on my thanks to both Duke Street and Europa for their support over the last eight years.
“It’s a new chapter for the Sandpiper team and we’re looking forward to working with our new investors.”
The list of brands under the Sandpiper umbrella includes: Marks and Spencem Checkers Xpress, Food Hall, Island Shopper, Wine Warehouse, Iceland, Costa Coffee, Jack Wills, Crew Clothing, Moss Bros, Hotel Chocolat, Greggs, Pasty Presto and George.
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