One Stop snaps up 77 Mills stores
Tesco convenience store arm One Stop has bought 77 stores across England and Wales from Tyneside’s Mills Group for an undisclosed sum.
Mills Group’s stores in the North East, Cumbria, the Midlands, Yorkshire and Wales will all move under the One Stop banner, bringing the number of One Stop stores to 598 across the UK.
Mills CEO Nigel Mills set up the company with his father in 1986, when they bought 11 newsagency businesses in Tyne & Wear. He said: “These stores and their staff will be in great hands with One Stop. They’re joining a brilliant team and will be very well looked after.”
One Stop has been wholly-owned by Tesco since 2003 but is run as a separate business, from its head office in Brownhills, Walsall, West Midlands.
The Mills Group was advised by the Newcastle offices of KPMG and Eversheds. The deal is expected to complete next spring.
