Today's Great Deal To Benefit From Acquisition
Tuesday, 22 July 2014
An acquisition deal has been concluded for a trusted name in Scottish online bargains, ensuring customer continuity while paving the way for future growth.
Community buying site Today’s Great Deal has been acquired by the West Lothian-based Phytoscience Group after an agreement was struck to transfer its ownership from business turnaround specialists Peerless Investments.
Members of the Peerless board, including entrepreneurs Shaf Rasul and Athif Sarwar, said they were pleased to have built up TGD over recent years, and expressed certainty that its new management would help it continue to flourish.
TGD – which offers its users exclusive deals from suppliers and businesses local to them - will now further benefit from the Phytoscience Group’s years of expertise in wholesale distribution and the supply of natural products.
Phytoscience director Chris Swainson said he was keen to finalise the acquisition deal, which he hopes will improve the TGD service and expand its offering, while maintaining its customer-focused ethic.
Due to the successful expansion of Phytoscience Ltd, in 2010 it was split into three separate companies. The family-run group hand-picks quality products to distribute in the UK.
One of Phytoscience’s subsidiaries, PPF Shipping alone despatches 1.6million orders per annum.
The Phytoscience group is also made up of Magnetic Therapy Ltd, and Magnetic Style Europe.
Mr Swainson said: “Thanks to this exciting new acquisition, I believe that Today’s Great Deal will be enhanced greatly for the benefit of its customers.
“TGD can now expect to tap into whole new markets, opening up the latest bargains like never before.
“Phytoscience Group has seen how popular TGD has proved, benefitting from a large subscription base and a huge following across social media.
“TGD enjoys 135,000 visits per week from bargain hunters in Glasgow and Edinburgh, helping many businesses to push their products and services in front of new audiences.
“We look forward to continuing that, while providing a platform for significant value add including cost synergies in buying power.
“Consumers will continue to enjoy the benefits of a competitive market.”
Mr Rasul said: “I was pleased to hear Chris’ vision for TGD which closely aligns with my own, and I am certain it will now be in safe hands.
“We worked quickly towards progressing and finalising a deal that we were both extremely happy with, and I’ll now watch the progress of TGD with keen interest.
“Today’s Great Deal is already synonymous with ease of use and brilliant bargains, and I’m sure the Phytoscience Group will only enhance that reputation further, encouraging local business and greater web footfall.”
Mr Sarwar added: “The Phytoscience Group is an excellent fit for TGD, and it makes huge sense for them now to be working in tandem under the same ownership.
“After helping to build up the business, I am certain that its acqusition by the Phytoscience Group will maintain TGD’s commitment to bringing high-quality, lower-cost products to consumers, while paving the way for future development.”