Fri, 27 Jan 2017 | BUSINESS SALE
UK supermarket giant Tesco is to buy food wholesaler and convenience store owner Booker Group for £3.7 billion as it steps into the restaurant and takeaway food sectors.
Booker is the UK’s largest cash-and-carry operator, supplying products including fresh and frozen food to thousands of shops, grocers, pubs and restaurants across the country.
It also owns a number of convenience store brands, including Premier, Family Shopper, Budgens and Londis.
Tesco, already the largest supermarket group in the UK, said the deal will create the "UK's leading food business". Its shares went up 10 per cent on the back of the news.
"Wherever food is prepared and eaten - 'in home' or 'out of home' - we will meet this opportunity with the widest choice and best service available," said Tesco chief executive Dave Lewis.
“This merger with Booker will further enhance Tesco’s growth prospects by creating the UK’s leading food business with combined expertise in retail, wholesale, supply chain and digital.”
Some analysts said they thought the deal could face a challenge from competition authorities.
James Lowman, chief executive of the Association of Convenience Stores, told the BBC the deal is "hugely significant".
"Some retailers will welcome this news, others will be concerned about competing with stores supplied through the merged Booker and Tesco business, and some will be uneasy at the prospect of working in partnership with one of their biggest historical competitors."
Find retail businesses for sale.
Expressions of interest for the business and assets are required by 5pm on 24th July 2019 with bids anticipated shortly thereafter. An opportunity exists to acquire the shares or alternatively the business and assets of this UK based, innovative comp...
*Trade Enquiries Only*. A leading UK designer, manufacturer and global distributor of critical components in specified compression fittings with a crucial safety function. Offers invited.
Manufacturer of Nets for everything except fishing. More than 130 years of continuous trading. The Company was founded in 1889 and is a very well established manufacturing business and has been a pioneer in the industry and consistently & successfull...
LEASEHOLD
|
19
|
|
Jul
|
Outdoor activity centre completes MBO | BUSINESS SALE
An outdoor water activity centre has been successfully sold ...
|
18
|
|
Jul
|
Filtermist International completes acquisition of industrial vacuum cleaner manufacturer | BUSINESS SALE
Filtermist International, an air extraction and filtration s...
|
17
|
|
Jul
|
Preston caravan manufacturer seeks buyer following administration | ADMINISTRATION
A caravan manufacturing business in Preston is on the lookou...
Sign up to receive our acquisition alert emails to get your FREE guide
|
14
|
|
Mar
|
Outsourcing giant plans £700m asset sale | DIVISION SALE
One of the country’s largest outsourcing players, Capi...
|
19
|
|
Apr
|
Tesco selling optician business to Vision Express | BUSINESS SALE
Tesco is to sell its in-store optician business to Vision Ex...
|
20
|
|
Jun
|
Tesco speculated to be selling coffee shop chain Harris + Hoole | DIVISION SALE
With the sale of the Dobbies Garden Centres chain announced ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources