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Tesco to buy UK’s biggest food wholesaler
Tesco has announced a surprise £3.7 billion merger deal with the UK’s biggest food wholesaler, Booker, in a bid to create “the UK’s leading food business”.
The acquisition of Booker, which owns the retailers Londis, Budgens, premier and Family Shopper, is expected to add some £3bn to Tesco’s capital.
As reported by The Telegraph, the deal – which is still to be scrutinised from the competition watchdog – brings 4,500 Booker operated stores into the Tesco portfolio as well as 172 wholesale sites and 13,000 employees.
In a statement, the companies said the, “combined group will be well placed to serve the large, established ‘in home’ food market as well as the faster growing ‘out of home’ food market.
“By bringing together Tesco and Booker’s retail and wholesale expertise, supply chain and digital capabilities, the combined group will be able to provide greater choice, quality, price and service in the food market, while improving efficiency and reducing food waste.”