Tue, 18 Aug 2015 | BUSINESS SALE
Morrisons is in advanced talks to sell its chain of convenience stores to an investment group in order to free itself up to focus on development of its supermarkets.
Reports from The Telegraph and The Financial Times revealed that people familiar with the matter said the firm is in exclusive talks with Greybull Capital regarding the potential sale of the 'M Local' business.
Greybull have not been the only potential buyer to approach the firm over its convenience stores. Alteri, a Mayfair-based investment firm with backing from US private equity group Apollo, is also thought to have made an approach.
Whoever eventually takes ownership of M Local will acquire between 150 and 160 stores which generate in the region of £250 million and £350 million in sales.
However, it remains unclear how much the group is thinking of paying for the retail acquisition and the structure their takeover would take in terms of closures and job cuts.
Any restructuring would follow an already extensive reshuffle implemented by Morrisons' chief executive David Potts, who joined the business as chief executive in March 2015. Mr Potts cleared out the boardroom and over 700 jobs from the firm's Bradford headquarters when he took control, leaving the company to work from a 'back to basics' approach.
View other retail businesses for sale.
A turnkey opportunity with established locations in high-traffic areas, complete with a loyal customer base and a reputation for fresh, sustainable Thai cuisine. With a focus on digital innovation, comprehensive support for franchisees, and community...
LEASEHOLD
Discover a lucrative opportunity to acquire a business with a diverse product portfolio serving multiple industries, including engineering, healthcare, and hospitality, with a client database of approximately 500 clients.
Opportunity to acquire a long-established retailer specialising in musical instruments and accessories located in the southeast.
LEASEHOLD
09
|
May
|
Teesside law firm expands into Sunderland with acquisition | BUSINESS SALE
Teesside law firm Tilly, Bailey & Irvine (TBI) has expanded ...
09
|
May
|
West Yorkshire health tech firm set for £11.6m merger | MERGER
Paxman Scalp Cooling, a West Yorkshire-based health technolo...
08
|
May
|
West Midlands IT firm acquired by US group | BUSINESS SALE
CSI Limited, a West Midlands-based provider of mission criti...
22
|
May
|
Suppliers expected to follow British Steel into insolvency | ADMINISTRATION
News that British Steel is to be placed into the hands of ad...
05
|
Jan
|
Airline’s engineering arm enters administration | ADMINISTRATION
Monarch’s last surviving division has fallen into admi...
22
|
Jun
|
My Local convenience store chain heads towards administration | ADMINISTRATION
Convenience store chain My Local faces being pushed into adm...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.