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Tesco-owned convenience store operator One Stop has opened its 700 th store. The milestone was reached with the conversion of a former Costcutter store in Ivel Court, Letchworth, Hertfordshire, which re-opened as a company-owned One Stop outlet on 14 November, one of three stores to be opened by the company on that day.
For Kohlberg Kravis, which still owns 62 percent of Stop and Shop shares, the $33.50-a-share price represents a tenfold return on its initial investment, which was $3.30 a share. This has been a fantastic investment for us, said Clifton S. Robbins, a general partner at the firm. And the credit goes to the management. We couldn't be more pleased.