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Retail

Poundland Acquires Online Discount Retailer Poundshop.com

Poundland has announced that it has completed the acquisition of online discount retailer Poundshop.com for an undisclosed amount.

The move is part of Poundland’s transformation plan and will provide the infrastructure to support the roll-out of its own pilot e-commerce operation across the UK, the group said.

Initially, Poundland launched the pilot in select postcodes in Birmingham and Walsall, which has since been extended across the Midlands and into South Yorkshire.

The Transaction

The deal includes Poundshop.com’s intellectual property, online platform, picking and fulfilment operations in Wednesbury and its customer database.

The integration of the business will be headed by Poundland retail and transformation director, Austin Cooke, who will also lead the day-to-day operations of Poundland’s online business.

Poundshop.com chairman, Steve Smith, and chief executive, Chris Maddox, will act in an advisory capacity to help ensure a smooth transition.

Poundland will retain all the current Poundshop.com employees and the business will continue fulfilling customers’ orders as normal during the integration phase.

Barry Williams, managing director of Poundland, said, “It’s great to warmly welcome the Poundshop.com team to Poundland. This acquisition puts power and pace behind our aspirations to make our amazing products and value available to customers across the UK and Ireland, however, they choose to shop.”

Poundshop.com

Poundshop.com is a UK-based, online-only value retailer with almost 400,000 customers and 65 employees at its distribution centre and head office in Wednesbury, West Midlands.

The company, founded in 2014, sells branded consumer products priced between £1 and £5, and three-quarters of its customers are female.

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© 2022 European Supermarket Magazine – your source for the latest Retail news. Article by Dayeeta Das. Click subscribe to sign up to  ESM: European Supermarket Magazine.

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