ENTREPRENEUR Shaf Rasul has tucked another deal under his belt following the sale of a website aimed at bargain hunters in Scotland’s two biggest cities.
Today’s Great Deal (TGD) has been acquired by West Lothian-based Phytoscience Group after an agreement was struck to transfer its ownership from Peerless Investments, the tech start-up specialist that has Rasul on its board of directors.
Rasul, who has featured in the online version of the BBC’s Dragons’ Den and is an adviser on Vince Cable’s entrepreneurs’ forum, said he was confident that TGD would continue to flourish under its new management.
The website – which offers its users exclusive deals from suppliers and businesses local to them – is set to benefit from Phytoscience’s “years of expertise” in wholesale distribution. TGD is said to enjoy 135,000 visits per week from bargain hunters in Edinburgh and Glasgow.
In 2010, Phytoscience was split into three business divisions. The PPF Shipping subsidiary handles some 1.6 million orders per annum. The group also runs Magnetic Therapy and Magnetic Style Europe.
Phytoscience director Chris Swainson said he was keen to expand the TGD offering, while maintaining its “customer-focused ethic”.
Rasul said: “I was pleased to hear Chris’ vision for TGD which closely aligns with my own, and I am certain it will now be in safe hands.
“We worked quickly towards progressing and finalising a deal that we were both extremely happy with, and I’ll now watch the progress of TGD with keen interest. Today’s Great Deal is already synonymous with ease of use and brilliant bargains, and I’m sure the Phytoscience Group will only enhance that reputation further.”
Swainson added: “Phytoscience Group has seen how popular TGD has proved, benefiting from a large subscription base and a huge following across social media.”
Peerless Investments is chaired by Athif Sarwar, the son of former MP and cash-and-carry tycoon Mohammad Sarwar. He said: “Phytoscience Group is an excellent fit for TGD, and it makes huge sense for them now to be working in tandem under the same ownership.”
The value of the deal has not been disclosed.
In November, Peerless provided backing for WhereiAm – the brainchild of Nazish Aslam, a graduate of Heriot-Watt University, who went on to work for FTSE-100 chip developer ARM. She has developed technology that creates a real-time message broadcast network, connecting businesses and organisations with consumers. It allows interaction with individuals based on where they are.