Shareholders at Morrisons and Safeway have voted overwhelmingly in favour of the Bradford-based chain’s £3bn takeover of Safeway to become the UK’s fourth largest grocer.
Executive chairman of Morrisons, Sir Kenneth Morrison, said: “This merger will be a transforming step for Morrisons, enabling us to take the distinct Morrisons formula and our passion and flair for food retailing to customers everywhere in the UK.”
Sir Ken continued: “We have very clear and detailed plans for Safeway and I am confident that we will be able to integrate the two businesses swiftly and efficiently.”
Safeway’s larger stores will be rebranded as Morrisons, with the smaller formats being repositioned as a convenience offer.
The combined group will have sales of some £13bn from 552 stores, after Morrisons divests 52 outlets to meet competition concerns.
The merger remains subject to court hearings but it is expected that the deal will be completed on March 8.
Executive chairman of Morrisons, Sir Kenneth Morrison, said: “This merger will be a transforming step for Morrisons, enabling us to take the distinct Morrisons formula and our passion and flair for food retailing to customers everywhere in the UK.”
Sir Ken continued: “We have very clear and detailed plans for Safeway and I am confident that we will be able to integrate the two businesses swiftly and efficiently.”
Safeway’s larger stores will be rebranded as Morrisons, with the smaller formats being repositioned as a convenience offer.
The combined group will have sales of some £13bn from 552 stores, after Morrisons divests 52 outlets to meet competition concerns.
The merger remains subject to court hearings but it is expected that the deal will be completed on March 8.
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