1. News
March 1, 2022updated 02 Mar 2022 6:02am

Poundland acquires UK-based online retailer Poundshop.com

The acquisition will provide Poundland with the infrastructure to start a national rollout of its own e-commerce operations.

UK-based discount retailer Poundland has completed the acquisition of British online discount retail business Poundshop.com for an undisclosed sum.

Based in Wednesbury, West Midlands, Poundshop.com is an online-only value retailer that serves nearly 400,000 customers.

Poundland has acquired the business’ intellectual assets, its tested online platform and the picking and fulfilment operations in Wednesbury, as well as its customer database.

The company will also retain all of Poundshop.com’s current employees and continue fulfilling orders of its customers as normal at the time of integration.

Poundland managing director Barry Williams 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.”

The acquisition is in line with Poundland’s ‘transformational strategy’ and will provide the required infrastructure for the company to launch its e-commerce operations.

Poundland retail and transformation director Austin Cooke will lead the business.

Poundshop.com chairman Steve Smith and CEO Chris Maddox will also offer advice for the transaction.

Poundland plans to use Poundshop.com’s knowledge to enhance its online operations.

The company has trialled its e-commerce service at selected locations in Birmingham and Walsall and has expanded in the Midlands and into South Yorkshire.

In addition, the acquisition will expand Poundland’s online offerings by adding PEP&CO clothing and homeware ranges.

It will also expand the retailer’s geographical presence outside the UK and offer a Dealz online service in Ireland.

In July last year, Poundland announced it would expand its chilled and frozen foods range to 37 additional stores.

The expansion was part of Project Diamond Ice, the retailer’s plan to roll out this product range across its store network.

Free Report
img

What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.