2008 Top Track 100
Rank: 5 Somerfield
This Bristol-headquartered supermarket chain was struggling when Apax and Barclays Capital backed a public-to-private buyout in 2005. Its new management team under chairman Jon Lovering and chief executive Paul Mason has turned it around, improving its product range and refocusing it on what they believe customers want — a local alternative to its rivals’ out-of-town stores. They have also ditched the underperforming Kwik-Save business and taken steps to exploit its large property portfolio more efficiently. Sales were £4,221m in 2008. The company has since confirmed it is in talks about a possible sale to the Co-operative Group.
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|Financial year end||Apr 08|
|Location of HQ||Bristol|
* = annualised figures‡ = draft accounts