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.
Seeking an acquirer / strategic partner for this long-established national engineering contractor providing an extensive range of solutions, including specialised fabrication, pipework installation, steelwork and mechanical equipment.
Our client, with a legacy spanning over 35 years, has crafted an exceptional brand and market-leading business in the world of organic wines. Now, due to retirement plans, they are seeking the perfect successor to carry forward their legacy.
Over the past 15+ years, our client has built a successful business providing a range of commercial cleaning and soft services to its contracted and growing client base. Working predominantly within the commercial and industrial sector, our client ma...
02
|
Apr
|
NVM exits travel tech firm Intuitive with Banyan Software deal | BUSINESS SALE
Banyan Software has bought a technology provider of end-to-e...
02
|
Apr
|
CheckFire Group buys long-standing partner PJ Fire | BUSINESS SALE
CheckFire Group, the South Wales-based fire safety equipment...
02
|
Apr
|
Listed group Spire Healthcare buys occupational health peer Acorn | BUSINESS SALE
Listed group Spire Healthcare has bought peer Acorn Occupati...
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 the complete resource for finding genuine 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.