PowerStore, the southern-based electricals retailer that acquired 71 stores from Homepower two weeks ago (MW February 17), is poised to make further acquisitions.
It is believed that PowerStore aims to buy stores from regional electricity company Powerhouse Retail, a joint venture between Southern Electric, Eastern Electricity and Midlands Electric.
The PowerStore chain plans to add a further 100 stores to its portfolio, and aims to become one of the top electrical retailers in the UK.
PowerStore chairman Clive Vlotman says the chain wants rebrand all stores under one name. “There will come a point in the future when we rebrand all the stores, but first we will have to double our size to achieve turnover of £200m,” he says. “This will be achieved through a combination of organic growth and acquisitions.”
He says PowerStore is the likely name for the national chain. It operates 71 stores under the Homepower name in the East Midlands and Yorkshire region, and 16 in London and the South-East as PowerStore.
Marketing and advertising for Homepower is being reviewed, and the fate of marketing manager Barbara Miers will be decided by the beginning of May.
Labour Party backs Green P&G range Power colour
The Labour Party has praised the environmental marketing efforts of big companies including Procter & Gamble, and called for laws to make other firms follow suit.
Frank Dobson, Labour’s environment spokesman, commended P&G’s range of “more from less” product lines in its detergents, fabric softeners, dishwashing liquids and automatic dishwashing products.
These include refill bags for detergents that are sold more cheaply than new bottles or cartons, which saves on packaging.
He also cited a waste discharge strategy introduced by Bluecrest Convenience Foods, which has saved £60,000 a year, and a “supplier environmental audit programme” introduced by B&Q.
Mr Dobson said pollution abatement techniques designed to reduce environmental damage should be enforced.
Labour has published a framework of “green” standards and regulations that it believes will also help business compete in the world market for environmental goods. Mr Dobson claims the UK share of the world market in environmentally-friendly products is small because the Government has failed to pass regulations encouraging green products at home.
Mr Dobson said if Labour wins the next election it will “play its part in promoting higher environmental standards, thus helping these companies develop further products and sales.”