McColls Eyeing Up Acquisition Of Tesco's One Stop Chain
Jonathan Miller, owner of UK convenience chain McColls, has said that he is eyeing up a potential takeover of Tesco’s One Stop chain, he told the UK's Daily Telegraph newspaper.
Retail experts believe that Tesco will be required to drop its One Stop brand or a large amount of Tesco Express shops before it can get clearance from the UK’s competition regulator for its merger with the wholesaler booker.
McColls intends to add 50 more shops into its existing pool each year. Acquiring Tesco’s One Stop would be a major starting point, said Miller
“Whether it’s One Stop or a number of stores we would be interested in having a look," he told the paper. "One Stop is very similar to our own model, so we would be the most logical business to acquire it.”
John Miller only recently took he reins of McColls, and on his first day on the job he oversaw the purchase of 300 Co-op stores in a £117 million deal. The transaction meant McColls now has around 1,300 stores in its pool.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Aidan O’Sullivan. Click subscribe to sign up to ESM: The European Supermarket Magazine.