Subscribe Login
DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Retail

B&M Acquires Convenience Chain Heron Food Group

UK discount retailer B&M has acquired convenience store chain Heron Food Group, with the aim of expanding the two businesses.

Heron is a discount convenience retailer operating predominantly in the North of England, with 251 stores. The company generated revenues of £274.4 million in 2016, with EBITDA of £19.1 million, and profit before tax of £8.6 million.

The deal is valued at £152 million, including the debt assumed of the Heron Group.

Future Growth

B&M says that this acquisition will allow the company to develop a new 'discount convenience grocery brand'.

Heron's owners, Andrew and David Heuck, will remain in their existing trading and finance roles within the company, and will help B&M to expand the business, opening between ten and twenty new stores per year.

"B&M is already the UK's leading general merchandise discount retailer, serving four million shoppers per week," said Simon Arora, CEO of B&M. "The addition of a complementary, proven discount convenience grocery brand to our own structural growth story gives the combined business an even longer, exciting growth runway."

© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days