Tesco announces merger with Booker
Tesco has announced it has agreed to buy food wholesaler, Booker, in a £3.7 billion deal.
Both companies believe the merger will create the “UK’s leading food business” which will “bring benefits for consumers, independent retailers, caterers, small businesses, suppliers and colleagues, as well as delivering significant value to shareholders”.
Food wholesale operator, Booker, also owns Premier, Budgens and Londis convenience-store brands.
Dave Lewis, chief executive office of Tesco, commented: “Tesco has made significant progress in turning around our UK retail business.
“This merger with Booker will further enhance Tesco’s growth prospects by creating the UK’s leading food business with combined expertise in retail, wholesale, supply chain and digital. Wherever food is prepared and eaten – ‘in home’ or ‘out of home’ – we will meet this opportunity with the widest choice and best service available.”
Charles Wilson, chief executive officer of Booker, added: “Booker is committed to improving choice, prices and service for the independent retailers, caterers and small businesses that we are proud to serve.
“We believe that joining forces with Tesco offers the potential to bring major benefits to end consumers, our customers, suppliers, colleagues and shareholders.”