Bensons secures growth funding from Alteri Investors as its appoints new COO
Bensons for Beds has secured additional funding from owner Alteri Investors to drive its growth and transformation plans.
The investment will accelerate digital development and help the retailer expand its portfolio of 166 stores across England, Scotland and Wales to between 180 and 190 locations over the next two years.
Funds will also be used to enhance Bensons’ logistics network, especially at its Tewkesbury distribution centre. The facility is currently being revamped to increase capacity, speed up delivery times and align it with customer service levels at the retailer’s other centres in Huncoat and Ayr. In addition, investment in Bensons’ Huntingdon manufacturing site will be increased.
In separate news, Bensons has announced that it has appointed supply, logistics and manufacturing expert Gavin Chappell as chief operating officer. Chappell’s thirty-year retail career has seen him hold senior operating and executive board roles at Asda, Boots, Dunelm and Holland & Barrett.
Ian Shepherd, chairman of Bensons for Beds, said: “This is an important time for Bensons. Alteri’s investment enables us to step up our transformation programme across all areas of the business. I’m also delighted to welcome someone of Gavin’s experience to our board – he’s going to make a significant contribution to our plans.
“We’ve made great progress towards our goal of becoming a market leading omnichannel retailer. There is still plenty to do and this investment will make a big difference, especially at a time when so many retailers are facing strong economic headwinds and the impact of high inflation.”
Gavin George, chief executive of Alteri Investors, added: “Alteri remains fully committed to the future of Bensons and this new investment marks another milestone as we build on the strong foundations that have been laid over the past two years. We will continue to work closely with the management team so the business can realise its full potential.”
