Plymouth based Grenville Store sells to an experienced operator
Grenville Store, a local business operating in Plymouth, has been sold to an experienced operator, advised by Kings Business.
The current owners, Mr and Mrs Aubert, have resided in the local area for over 50 years. Since acquiring the store in 1990, the couple have used their knowledge of the neighbourhood to build the business from the ground up and cement the store’s excellent reputation.
After owning and managing the store for 31 years, Mr and Mrs Aubert decided to place the business on the market in order to retire. The business attracted significant interest due to Kings Business’s expert marketing campaign, with 14 viewings and 2 strong offers received.
The buyer, Mr Umapathy, has experience within the sector and owns other similar businesses. He has a breadth of retail expertise and runs his businesses alongside his family.
Mr Umapathy was attracted to Grenville Store as he was looking to expand his portfolio and the location of the store was perfect, with him being impressed with the sales figures and growth of the store. He intends to grow the business and continue the store’s legacy as a family-run business.
Upon completion of the sale, Mr and Mrs Aubert said: “We are delighted to have accepted Mr Umapathy’s offer and are looking forward to our retirement. We are happy with the service we received and are grateful for all of Lauren’s help in keeping us up to date during the sale”.
Mr and Mrs Aubert intend to down-size their house and enjoy their new-found spare time together during their retirement.
Mr Umapathy said: “I had a great experience with Kings. Someone was always on hand to help and have communicate well with me during the sale. We are looking to acquire more businesses and will definitely be coming back to Kings for this”.
Mr Umapathy and his family have moved into the store and have begun embracing their newest acquisition.
Sales Negotiator Lauren Lees said: “I am over the moon that we have completed on this deal, the buyer and seller have been so motivated and helpful. I wish the new owners every luck in running their new business and hope the sellers enjoy retirement”.
