Supermarket snapped up after HSBC funding deal

An Asian grocery retailer has acquired a supermarket following a funding package from HSBC.

Inventure Holdings has purchased S&D Supermarket, a 9,000 sq ft Asian grocery store on Birmingham’s Soho Road after securing £1.75m in funding.

The Harrow-based business, founded in 2011, has since expanded to 13 retail stores and three wholesale operations in London, the Midlands and the North. Following the deal, the business expects to hire eight new employees and increase its retail turnover to £16m by the end of the year.

Kumar Jani, Chief Finance Officer at Inventure Holdings said: “S&D is a popular supermarket in the Handsworth area of Birmingham. With the support of HSBC UK, we’re delighted to be adding the business to our portfolio of retail stores and serving the local community as we continue to grow our business across the Midlands.”

Amit Tomar, relationship manager at HSBC UK added: “The demand for convenience stores in the UK has increased by four per cent, and in 2022, was valued at £45.2 billion. Inventure Holdings is a well-established and successful retail business that caters to the demand for Asian food and convenience goods. We are proud to support the company with acquiring S&D supermarket while also creating new job opportunities in the local community.”