Tuesday, June 25, 2024

Ritchies Stores announces new acquisitions

Ritchies Stores has announced the acquisition of the Corcoris Group, which consists of two supermarkets and two liquor stores in East Ringwood and Heathmont in Victoria. The stores have been run by the Corcoris Family for over 35 years and trade under the banner of Paul’s Pantry IGA in Ringwood East and Paul’s IGA in Heathmont.

“The stores bring great synergies for us, being close to our Ringwood North and Wantirna stores. These stores bring our total network of stores to 78 supermarkets and 67 liquor stores in Australia,” the retailer said.

“We look forward to bringing the 120+ Paul’s IGA team members and these stores into the Ritchies family, and also look forward to working with the Corcoris Family over the coming weeks as we transition the stores to Ritchies.”

Ritchies Stores also announced its corporate updates:

  • The acquisition of Wallan Celebrations and Kilmore Celebrations liquor stores. “These standalone liquor stores are very successful stores and we look forward to finalising the acquisition of these stores, and bringing the team members on board.”
  • The signing of an MOU to design and construct a supermarket and liquor store that will be located in the Bass Coast Village Shopping Centre in Grantville. “Although early stages, we intend to work with Leading Edge Property Group to obtain final council approval, and hope to commence construction in the latter half of 2023, subject to further due diligence on building quotes.”
  • The continued construction of its flagship Towerhill store, with opening scheduled for September/October 2023. “As previous posts have highlighted, Towerhill was one of our original stores, and given its location, will become a flagship store for us given its modern fit out and central location.”
  • The continued construction of its Kurri Kurri liquor store. “Having closed down our doors more than 12 months ago, we are looking forward to bringing the liquor store back, albeit in a different location.”
  • The continued renovation of Tatura Stage 2 (grocery and liquor) and its Balnarring Store. “Our Tatura Stage 2 will be officially relaunched on or around August 2023 and Balnarring in early-2024. Both stores are Fine Food & Wine stores, and will become flagship stores in their own right once they are fully launched.”

“There is also plenty to be excited about for 2023 with more corporate announcements as we continue to improve and grow our store network.”

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