Booker: Deal 'Will Help Independents Prosper'
Booker, which today announced it is to take over the Budgens and Londis businesses of Musgrave Group, said that the planned deal will 'help independents prosper amid the changes that are occurring in the grocery market'.
In a statement, Booker said that its aim is to 'further develop the Budgens and Londis brands' alongside Premier and Family Shopper, Booker's retail brands.
There are no planned changes to the Budgens and Londis brands, the statement read, however it added that the businesses will 'benefit from a better local and national supply chain. This will help improve the choice offered by the retailers to the consumer'.
Commenting on the proposed transaction, Charles Wilson, Chief Executive of Booker (pictured), said, "Booker, Londis and Budgens are joining forces to help independent retailers prosper throughout Great Britain.
"This transaction should strengthen Londis, Budgens, Premier, Family Shopper and other Booker retailers, through improving choice, prices and service to consumers. Overall it will help independent retailers prosper."
Booker anticipates that the acquisition, valued at €57 million, will be earnings neutral within the first complete year of ownership.
© 2015 - Checkout Magazine by Stephen Wynne-Jones