Kaupthing doubles return

Kaupthing has sold its stake in Costcutter, the UK convenience store, to Bibby Line, the UK transport and shipping group. The sale has made Kaupthing a 2x return with an IRR of 67%.

Bibby currently distributes to Costcutter stores through its logistics contract with NISA, the company’s key supplier. The existing management team of Costcutter, led by CEO Colin Graves, will continue to operate the company.