Christie + Co sells CI Newsagents portfolio to Spar franchisee

22 August 2008

Acting on behalf of Channel Island Newsagents Ltd (CI Newsagents) - a trading company within the Guiton Group, Christie + Co has sold a 12-strong group of news and convenience-orientated stores located on Jersey to the Channel Islands Wholesale Group (CIWG), part of the Royal Yacht Group, for an undisclosed sum.

CIWG holds the Spar supply contract for the Channel Islands.

Predominantly leasehold, the portfolio of stores operates under two main formats: Pickwicks; a neighbourhood newsagent and rStore; a local convenience store, and produces combined sales circa £9.2 million. The stores are strategically located in the areas of Jersey with the largest population.

A further freehold, the rStore in Maufant, was sold separately to the Channel Islands Co-operative Society for an undisclosed sum.

Daniel Bowyer, Associate Director at Christie + Co, said: “The Guiton Group as owners of the Jersey Evening Post commenced CI Newsagents Ltd to protect the circulation of the newspaper. Following the de-regulation of the newspaper distribution industry, the company decided to exit retail, to concentrate on their core activity of publishing.

“CI Newsagents having previously converted supply to Spar were comfortable with the divestment to CIWG.”

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For further information on this press release, please contact: Mark Wingett at Christie + Co. Tel: 020 7227 0794. mark.wingett@christie.com