Despite lockdown and the difficulties presented by Covid-19, HCR’s corporate team in Worcester, led by partner Alison Scott, advised Poundland on its acquisition of frozen food retailer Fultons Foods – a move which will create around 1,000 full and part-time jobs over the next two years.
The deal follows a year-long partnership between the two firms, and will enable Poundland to add frozen and chilled food to its existing stores. Already in in 70 locations, Poundland will invest over £25m to increase this to 500 locations over the next two years.
Alison said: “We‘re delighted to have been able to complete this deal, which supports both firms, creates jobs and accelerates Poundland’s transformation programme. Lockdown, and then the testing business climate over the summer, presented a few challenges, but this is an excellent result both for Fultons’ existing staff and for wider employment.
“We have advised Poundland on various matters now for a number of years now, so were delighted to have been appointed to act for them in this transaction. ”
The HCR team included Mandip Riar (corporate), Louise Crook (real estate), Harpreet Kaur (employment), and support from the commercial team.
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.”