Londis chain in £40m buyout?

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Convenience chain Londis looks set to be bought out by Cash and Carry giant Booker.

It is not yet known whether staff at stores in Cleckheaton, Dewsbury, Liversedge and Mirfield will be affected.

Booker Group plc announced it had signed a sale and purchase agreement to acquire the entire issued share capital of Musgrave Retail Partners GB Limited, which comprises the Londis and Budgens businesses for £40 million.

Completion of the buyout is conditional on the approval of the Competition & Markets Authority.

After completion, Booker’s wants to further develop the Budgens and Londis brands along with Premier and Family Shopper, Booker’s retail brands.

A statement said: “Budgens and Londis customers will retain their brands, but will benefit from a better local and national supply chain.

“This will help improve the choice offered by the retailers to the consumer.

“The increased scale and operational efficiency should help lower prices, and retailers will benefit from a better delivery and cash and carry service.

“This will help independents prosper amid the changes that are occurring in the grocery market.”

Charles Wilson, CEO of Booker, 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.”

Although the statement did not say whether there would be redundancies , it say that further information would be made in due course.