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.
An established, award-winning care home with nursing, that is located in a popular East Midlands town and has come to market for the first time so that our client can retire.
For sale a lucrative portfolio of residential care homes conveniently clustered in the Northwest of England, offering residential and dementia care.
A profitable care home with nursing located in an East Midlands town. Well-presented and extended accommodation with 57% of the ground floor bedrooms being ensuite.
03
|
May
|
Three Aberdeen legal firms merge to form all-service provider | MERGER
Three prominent Aberdeen legal businesses have merged to for...
03
|
May
|
BGF-backed asbestos services firm makes third acquisition | BUSINESS SALE
Environmental Essentials, a specialist asbestos services fir...
03
|
May
|
Logistics firm acquires pair of Derbyshire businesses | BUSINESS SALE
A logistics firm headquartered in Preston has acquired a pai...
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 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
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.