Discount retailer B&M has acquired convenience store chain Heron Food Group for £152 million ($201 million). As part of the purchase, B&M acquired Heron’s 251 convenience stores located in the north of England, which generate £274.4 million ($362.8 million) in annual sales, enabling B&M to roll out a large-scale convenience offering.
B&M plans to increase its current store count of 537 to 950 and expand its geographical presence across the UK. The retailer, which primarily sells low-cost merchandise items such as bedroom furniture, cleaning products and toiletries, will expand into convenience groceries. The acquisition of Heron will enable B&M to “develop and roll out a complementary, proven and profitable discount convenience grocery brand,” the company said in an announcement.