Daniel Bowyer of Christie & Co, which handled the sale, said the group, which owns both CI Newsagents and the Jersey Evening Post, wanted to focus on its publishing arm. He said: “Following deregulation of the newspaper distribution industry, the company decided to exit retail to concentrate on its core activity of publishing.”
The 12 stores operate under the Pickwicks and rStore names.
CIWG holds the Spar supply contract for the Channel Islands and already supplied the stores in question.
CI Newsagents has also sold an additional rStore in Maufant to the Channel Islands Co-operative Society for an undisclosed sum.