Nottingham law firm Browne Jacobson has advised Wilko on the £48 million sale and leaseback of its Worksop distribution centre.
The high street retailer has signed a 15-year partnership agreement with DHL in order to free up cash for investment across its 402 stores and digital channel.
Wilko chief executive Jerome Saint-Marc said: “It’s standard business practice to constantly review how we manage our finances.
“This property deal with DHL represents long-term stability for us and our team members and is the right response to the current market conditions and our priorities.
“We’re making smart choices to trade a business and allow us to continue to invest in our long-term transformational strategy.
“Wilko remains family owned and continues to focus on helping hard working families to be the best that they can be, delivering great value products to our customers.”
Wilko group development director James Dorling said: “I would also like to extend my thanks to Sarah and Caroline who worked tirelessly with us on this important deal.
“Having worked with them for many years, they truly understand the Wilko DNA and our aspirations.
“As usual, the advice they provided was strategically sound and their knowledge of the ever-changing retail market was spot on, which meant all parties achieved the right outcome.”
The deal was run by Browne Jacobson retail property partner Sarah Parkinson, assisted by senior partner Caroline Green, who led a team on the commercial legal aspects.
Sarah Parkinson said: “This partnering between a fantastic value retail brand and an excellent logistics business presents multiple mutual benefits including scale in property and warehousing.
“As always, Wilko has its family customers at the heart of what it does, so this move means they are even more committed to meeting rapidly evolving customer demands.
“We are delighted to have supported this collaboration and helped Wilko with its revised strategy.”
Browne Jacobson’s national retail, leisure and logistics lawyers work with many house-hold name brands that cut across various sectors including fashion and beauty, logistics, retail, sports and leisure, restaurants bars and hotels.
