Offshore private banking services could see interest in Waitrose bid

Offshore private banking firms may see a surge in interest in alternative investments such as stocks and shares in expanding companies.

Waitrose has announced it plans to expand into the Channel Islands by acquiring two supermarkets in Guernsey and three in Jersey.

The fresh produce giant said more than 130,000 sq ft of selling space would be created, although the move is yet to be agreed by the regulatory authorities.

If the green light is given, investors may look to offshore private wealth opportunities if the expansion marks the start of further growth in the Channel Islands.

Commenting on the move, managing director of Waitrose Mark Price said the acquisition is part of its plan ’to make the Waitrose brand accessible to more people in more places and builds on our recent acquisitions from the Co-op and Woolworths, as well as our strategic partnerships with Welcome Break and Boots’.

The shops would be operated by Sandpiper CI until early 2011, when they will be handed to Waitrose.

Under its corporate and social responsibility policy, Waitrose - owned by its employees - says it strives to protect the environment and enhance the communities it operates in.ADNFCR-2318-ID-19857947-ADNFCR