Foodstuffs signs deal to acquire liquor stores

Steve Anderson, managing director of Foodstuffs, which owns Liquorland, said a sale and purchase agreement had been signed for stores throughout the country. Photo / George Novak

Supermarket giant Foodstuffs has signed a deal to buy 21 liquor stores from national chain The Mill Retail Holdings.

Steve Anderson, managing director of Foodstuffs which owns Liquorland, New World, Pak'nSave and other businesses, said a sale and purchase agreement had been signed for stores throughout the country, which would become franchised Liquorland outlets.

"There are a number of conditions still to be met as part of the due diligence process before the sale can be finalised, and once these conditions have been satisfied we will be in a position to provide more information," Anderson said.

No store staff have been laid off, he said.

"As part of the sale and purchase process store staff will be offered contracts of employment to Foodstuffs Liquor New Zealand Limited which owns Liquorland - the business is simply working through this process."

On its website The Mill says it has a network of stores throughout New Zealand, built up over the last 20 years from its first stores in the Taranaki.

"Our success and growth has been based on a simple formula of supplying products that our customers demand, reducing prices over a huge range of liquor brands, and employing friendly and knowledgeable staff," it says.