Presto (UK supermarket)
 | |
| Industrie | Grocery, General merchandise |
|---|---|
| Gegründet | 1977 |
| Defunct | 1998 |
| Fate | Stores converted to Safeway |
| Successor | Safeway (UK) |
| Hauptsitz |  Hayes, Greater London |
| Parent | Safeway (UK) (after 8 March 2004) |
Presto was a chain of supermarkets and convenience stores in the United Kingdom. The company was established in the north of England and in Scotland in 1977 but for a short time had a nationwide presence. The name derives from the town in which the first store was opened: Prestonpans. The brand disappeared from the UK during 2008.
History
Early years
The Company was founded as James Gulliver Associates in 1977 by James Gulliver, a former Fine Fare Chief Executive, Alistair Grant, a marketing specialist and David Webster, a merchant banker.[1]
The founders acquired two food businesses, Morgan Edwards, a business owning the Supervalu chain of foodstores, and Louis C. Edwards, a meat business in Manchester,[2] integrated them and then, in 1980, adopted the name Argyll Foods after Gulliver's place of birth.
In 1981 the Company bought Oriel Foods, a food manufacturing and wholesaling business which the founders had briefly owned previously in the 1970's before they sold it to RCA Corporation and which owned Low-Cost Discount Stores.[2]
Also in 1981 the Company made a £91m hostile bid for Linfood Holdings, a wholesaling and retailing group which was substantially bigger than itself and owned Gateway Stores: however the bid was referred to the Monopolies Commission and did not proceed.[3]
Presto and other acquisitions
The Company went on to buy Allied Suppliers from Sir James Goldsmith in 1982: this brought with it the Presto, Liptons, Galbraith and Templetons chains.[2] Presto Foodmarkets was the name of a chain of supermarkets established in the north of England and in Scotland in 1977: the name derives from the town in which the first store was opened: Prestonpans.
In 1984 Argyll acquired the Thornaby-based Amos Hinton plc which operated 55 supermarkets under the Hintons name in the North East of England, Cumbria and Yorkshire.[4]
In 1985 Presto became Argyll's principal fascia for larger stores and Lo·Cost smaller stores: a new Presto logo was launched and plans made for new Presto regional distribution centres in Bristol, Wakefield, Bathgate and Welwyn Garden City.