Law firm Hill Dickinson LLP has advised Iceland Foods on the exchange of contracts to purchase 51 Woolworths stores throughout the UK.
The stores were acquired following the collapse into administration of the 815-store group in November last year. Iceland plans to create 2,500 jobs in the new outlets.
Andy Pritchard, managing director of Iceland Foods, said: "The acquisition of these prime retail sites will further increase our presence throughout the UK and Northern Ireland. We look forward to realising the full potential of the sites over the coming months and to creating around 2,000 jobs."
Michael Stephens, partner at Hill Dickinson, added: "This deal is highly significant in the current economic climate. Iceland Foods is working to an ambitious expansion strategy and this key acquisition will help the food retailer achieve its business objective and increase its market share."
Stephens advised on the acquisitions in England and Wales, whilst Christine Hamilton at Elliott Duffy Garrett advised in Belfast and Paul Lombardi at Anderson Strathern advised in Glasgow.