key points
- SPAR will exit the UK market.
- The South West England business will be sold.
- The deal is worth around £13 million.
- Expected to be completed in 2026.
JOHANNESBURG, May 18 (Reuters) – South African grocery retailer SPAR Group said on Monday it would exit the UK by selling its southwest England business to AF Blakemore & Son and disposing of 63 other stores in deals worth about 13 million pounds ($17.41 million).
AFB South West England will acquire the SPAR licence, 71 stores, associated warehouse and logistics infrastructure and associated independent retailer supply agreements.
A further 63 stores are being sold to third-party operators. The deal generated total gross proceeds of approximately £13 million.
SPAR had previously recognized a loss of €78.5 million related to the UK business and no cash outflow is expected.
“The disposal enables a clean exit from the United Kingdom, removing the ongoing disruption to earnings and management distraction, while releasing capital and capacity to focus on core markets and strategic priorities,” SPAR said.
It is expected to be completed between June and September 2026.