Poundland acquires Fultons Foods
Poundland has acquired north of England based frozen food retailer Fultons Foods.
The discount retailer said the move will help accelerate its transformation plans.
Poundland has already been working with Fultons for 12 months on the development of a chilled and frozen food range. This has enabled it to offer frozen and chilled foods in more than 70 of its stores and to extend the offering to a further 40 stores by December.
Poundland has committed to investing £25 million over the next two years in its chilled and frozen operation. Work will include converting some Fultons stores into a full Poundland format, establishing Fultons’ Barnsley base as its national frozen distribution centre, and building infrastructure at its Harlow distribution centre which serves the south of England. The plans will create around 1,000 new full and part time roles.
Poundland is aiming to bring its chilled and frozen offer to a further 150 stores in the 2021/22 financial year and to as many as 500 stores over the next two years.
Both Fultons co-owners will remain involved in the business following the acquisition. Karen Rees will become Fultons managing director and will report directly to Poundland managing director Barry Williams. Meanwhile, Kevin Gunter will continue in an advisory role for six months. All 800-plus Fultons staff members will join Poundland this month with no changes to their terms and conditions.
As well as investing in stores, Poundland’s transformation plan also includes the pilot of new free from ranges and beers, wines, and spirits in selected stores.
Barry Williams, Poundland managing director, said: “We couldn’t have developed our chilled and frozen ranges without Fultons’ expertise and now is the right time to move to the next level and bring the team on board.
“By combining our experience, we can accelerate our frozen and chilled rollout and bring the amazing value it offers to more of our customers across the UK.”