Shoprite: Isle of Man’s supermarket chain bought by Tesco - all 9 stores to be rebranded
Isle of Man’s long-standing supermarket chain has been bought by Tesco, it has been reported. Shoprite - which has served the Isle of Man for more than 50 years and has nine stores across the island - will now be rebranded over the next nine months.
According to the BBC, Shoprite's majority shareholders Deryck and Kevin Nicholson said the sale was a "carefully considered" decision. They also thanked their “loyal staff”. Tesco chief executive Jason Tarry said the firm was committed to delivering "fantastic value" to Manx shoppers.
He said the team at Shoprite, which first opened in 1972, had "built a fantastic business over many years" and he was "really pleased that we've reached this agreement". Shoprite is one of the largest employers on the island and presently sells a combination of Sainsbury's and Robinson's products.
Responding to the announcement, Enterprise Minister Tim Johnston said he understood there would be "a number of staff at risk outside the stores". He said: "Whilst any announcements that result in job reductions are never welcome, I am heartened by the commitment from Tesco to retain the majority of staff in the immediate term and invest heavily in the existing store network over the next 12 months.
Chief Minister Alfred Cannan said: "For many years the Shoprite brand has supported the growth of many local food producers by stocking their product lines, from locally produced meat, fish and vegetables, to ales, wines and spirits across over 150 local suppliers. I am keen to see a similar local business partnership continue as Tesco takes over."
There are Shoprite outlets all across the island, including Port Erin, Ramsey, Peel and Castletown. Tesco previously had one store on the island, which opened in Douglas in 2000.