US private equity giant mulls M&S buyout

“Given the unfolding humanitarian crisis following the invasion of Ukraine, M&S has suspended shipments to our Turkish franchisee’s Russian business. We are doing everything we can to support the people of Ukraine and in response to the growing refugee crisis, we are building on our existing support for UNICEF UK’s Ukraine appeal with a £1.5m package to support the UN Refugee Agency (UNHCR) and UNICEF to help children and families in need. This is made up of a kickstart £0.5m donation to UNHCR with a further £0.5m for matched fundraising for all our global colleagues and double donations on Sparks transactions to support UNICEF; and activation of till-point and online giving in the UK. We are also providing practical help through UNHCR; donating 20,000 units of coats and thermals for families in need totalling a further £0.5m.”
City sources said Apollo had considered M&S a bargain.
// Private equity giant Apollo Global Management is mulling a buyout of Marks & Spencer
// It is unclear whether Apollo’s interest has been dampened by the recent surge in M&S shares

A US private equity giant is mulling a buyout of Marks & Spencer.

The Sunday Times stated that Apollo New York-based Apollo Global Management considers M&S a bargain, believing the retailer’s shares were being weighed down by the impact of Covid.

The firm also thought the market had failed to attribute enough value to M&S’s 50 per cent share of the grocery giant Ocado’s retail business, acquired for £750 million in 2019.

READ MORE: M&S continues to expand offering with Costa Coffee collaboration

The deal allowed M&S customers to buy its food online for the first time through the Ocado website.

However, it is not yet clear whether a recent surge in M&S shares, which have risen by 24 per cent on upgraded profit forecasts, has dampened Apollo’s appetite, The Sunday Times reported.

A private equity bid would likely attract scrutiny as the retailer begins to shows signs of looking up.

Recent trading at M&S has also been boosted by the post-pandemic recovery in consumer spending and the fall of its long-standing competitors such as Debenhams.

However the environment is likely to get tougher in the new year as rising inflation begins to squeeze household budgets and the disruption to global supply chains continues.

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  1. Marks and Spencer should not be allowed to be taken over as part of an MBO. If they are they will go the same way as Debenhams.

    Just No !


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