KPMG has hired Nick Ivel, the former Group Chief Executive of Costcutter Supermarkets, as a consultant to advise the firm’s clients on their convenience store strategy.
During Ivel’s 14 year tenure at Costcutter the annual turnover of the Group increased from £198m to £650m and Costcutter developed into one of the premium convenience Symbol Group brands in the UK.
David McCorquodale, head of retail at KPMG said: “With numerous players in the convenience store sector all chasing the same sliver of market share, the time is ripe for further consolidation in the market. I am delighted to be able to lean on Nick’s extensive experience to guide and advise our clients on their future strategy in this crowded market place. We are expecting to see transaction levels spike again in this sector.”
Nick Ivel, consultant for KPMG, said: “This is a very exciting and changing sector, with a lot of consolidation still to happen. Costcutter's recently announced joint venture with Palmer and Harvey is simply the tip of the iceberg and I expect to see many other players considering a similar strategy.”
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KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.