SOLD!

Shoprite has announced it has sold its nine stores to Tesco.

The sale will bring the number of Tesco stores on the island to 10, including its existing store in Douglas.

These stores will remain trading as Shoprite during a transition period and will be rebranded to Tesco over the next nine months.

Shoprite store employees will be employed by Tesco.

Deryck and Kevin Nicholson, from Shoprite, said: ‘We have carefully considered this decision and are pleased to pass our business on to an established brand in Tesco, which already has a presence on the Isle of Man.

‘We wish to express our gratitude for the loyal support of our staff, suppliers and customers and we would like to sincerely thank them for being part of our journey for more than 50 years.

‘We believe these stores will continue to thrive and deliver a fantastic service for customers on the Isle of Man. We look forward to continuing our work well into next year as part of a transition period.’