Press Release - Equity Plus Partners – London 6th September, 2011
Equity Plus Partners today commented on the recent speculation that 99pWholesaler may have been sold to a trade buyer.
Atul Devani of Equity Plus Partners Said, "The Company has been receiving an unprecedented number of calls from the press and trade to confirm if the Company had been sold. We would like to inform all our customers and business partners that no such transaction has been tabled to the Company or any formal offers received. 99pWholesaler was set up to offer a new and unique method of bringing together daily deals from an enormous source of manufacturers, wholesalers and trade suppliers. We know that independent retailers are consistently being put under pressure to search for deals as the traditional methods of supply have relied upon a few national Cash and Carry outlets who have maintained their domination of the industry for many years”.
Suleman Sacranie, Managing Director also commented, “Our aim has not been to compete directly with these outlets that will often stock a higher range of products, but to quench the thirst of Independent Retailers to find deals at better prices, with the convenience of having goods delivered free, directly to their door. There is a constant search for the top 20% of products which often can be found cheaper than in the traditional Cash and Carry. We aim to make that easier by providing a platform that makes these deals available directly to the retailer. Cash and Carry’s will continue to play a part in supplying businesses for some time to come but we want to make the Retailer’s requirement to find deals from one site a reality by giving them what they want, A deal everyday, of every week, of every year”.
Commenting further on the recent speculation on Cash and Carry’s wanting to buy the Company, Atul commented:
"It is clear that we have something to offer that has not only captured the attention of our customers, but also the attention of the traditional players.
We are happy to work with Cash and Carry’s and respect very much the service they provide. However, there are many localised wholesale providers who cannot reach the custom of all businesses across the UK and we can help change that, for the mutual benefit of both suppliers and our customers.
We have invested in a dedicated and talented management team who continue to remain focussed on launching the exciting 2nd and 3rd phases of our business which will further enhance our offering bringing a greater number of suppliers and ranges of products and change the way business is done in this industry".
About Equity Plus Partners
Equity Plus Partners is an investment management firm, which was formed in 2008 by Atul Devani, Richard Scott and a team of highly experienced entrepreneurs, each of whom has successfully built and exited a number of companies including trade sales and public listings on the AiM market prior to forming Equity Plus Partners. Their objective is to invest in or acquire technology led businesses and companies that they believe have the potential to reshape the markets in which they operate or indeed create an entirely new market. They provide management assistance to, established or new start-up businesses in the UK and beyond. The EPP management team has significant expertise in operating in publicly quoted markets, in both principal and advisory capacities. Our operational experience in areas such as sales, marketing and financial management, coupled with our skills as business entrepreneurs, make them an ideal partner for any business that is looking to grow and develop - and to ultimately create the returns for all concerned.
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