Thu, 31 May 2012 | BUSINESS SALE
Cash and carry food wholesaler Booker has agreed to purchase its struggling rival Makro UK from its German owner Metro in a cash and shares deal.
Booker has offered £15.8 million cash and a 9.99 per cent stake in its own business to Metro to secure the deal, which has a total value of £151 million. The two companies will work together to improve their supply chains and have a greater range of products for sale to customers.
Booker’s business, operating from 170 outlets with a workforce of 10,000, is derived from convenience stores, pubs, restaurants, schools and prisons, and will be boosted by access to Makro’s usual customers – hotels and smaller businesses.
Makro operates 30 stores in the UK with 3,000 staff and has a range of 29,000 products. Booker will also benefit from Makro’s popular fresh-fish business.
Makro recorded pre-tax losses of £63.2 million on revenues of £787 million. By contrast Booker, last week, filed a 27 per cent rise in its pre-tax profits to £90.8 million for the 53 weeks to 30 March. Sales had increased by nine per cent to £3.93 billion.
Booker boss Charles Wilson said: “Booker and Makro UK will improve choice, prices and service for retailers, caterers and SMEs throughout the UK.”
Adding that: “Together we will offer a wide range of foods and non-foods to our professional customers, via the internet, delivery and cash and carry.”
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