Fast growing FMCG wholesaler and distributor, Pricecheck has expanded its warehouse operations to cope with demand.
The Sheffield-based company has recently doubled its warehouse capacity after leasing the former Maplin headquarters at Manvers, South Yorkshire.
The deal, brokered by joint letting agents, Knight Frank and CBRE, sees Pricecheck take a lease of the 197,425 sq ft building on Brookfields Park.
The additional space means Pricecheck now occupies 378,000 sq ft, across two sites which includes its offices and mezzanine storage, giving the capacity for 32,000 pallets.
Pricecheck is investing a further £750,000 to fit-out the new premises with pallet racking, sprinkler systems, specialist aerosol storage, forklifts and equipment.
The expansion will see some existing employees relocate as the new site gets up and running and over time will create more than 100 new jobs.
Mark Lythe, joint managing director (operations & finance) said: “We have ambitious growth targets and will continue to invest in all areas of the business to ensure we remain on track to achieve those.
“The expansion of our warehouse capacity is in line with our strategic plans for the next five years as we target a turnover of £200m by 2025. Despite the challenges of Coronavirus, we remain very confident about the long-term prospects for our business.”
As part of the company’s ongoing investment in talent, infrastructure and technology, Pricecheck is in the process of introducing a state-of-the-art warehouse management system with the project due to go live within the next six months.
Mark adds: “The significant investment in our warehouse management system will ensure a smooth process and efficient management of stock as well as coordinating operations across our two sites. It will also enable us to continue our fantastic growth in a controlled manner.”
Rebecca Schofield, partner at Knight Frank, said: “This is a significant expansion for Pricecheck, and it is good to see market activity continuing at this level, despite the difficult operating conditions, which all businesses are currently negotiating.”
Mike Baugh, Senior Director at CBRE, said: “This is excellent news for Yorkshire and reinforces the resilience of many businesses and the industrial and logistics market in the region.”
Throughout the transaction, Pricecheck was advised by DLA Piper and Walker Wood Surveyors.
Pricecheck is an international distributor of fast-moving consumer goods, and is trusted by the world’s biggest brands, offering more than 6,000 branded products to customers in the UK and to more than 80 countries globally.