Saturday, February 23, 2019

Londis and Budgens bought for £40m


The UK‘s largest cash and carry chain is to buy budget chains Londis and Budgens chains in the UK, in a £40m deal that will strengthen its status as an independent grocery retailer. The takeover will add thousands of additional stores to Booker’s network”Ž portfolio.

Londis, trades from more than 1,900 convenience stores and Budgens, a franchised chain, has over 180 stores. The food wholesaler said the deal would improve the efficiency of both brands‘ supply chains amid changes in the grocery industry, including intense price wars amongst major supermarkets facing the growing dominance of discounters Aldi and Lidl.

Booker said the Londis and Budgens brand names would remain, and would sit alongside its retail brands, Premier and Family Shopper. Chief Executive, Charles Wilson, 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.”