Booker Group to acquire Makro UK
Food wholesaler Booker Group is to acquire Makro UK, part of German retail and wholesale group Metro, in a deal worth Â£139.7 million.
To buy the company Booker will issue shares representing 9.99% of its current issues share capital and pay a cash consideration of £15.8 million.
Booker chief executive Charles Wilson said: "Through working together, Booker and Makro UK will improve choice, prices and service for retailers, caterers and SMEs throughout the UK.
"Together we will offer a wide range of foods and non-foods to our professional customers, via the internet, delivery and cash and carry.
"The board is confident that this collaboration will enable us to continue to generate value for shareholders."
Olaf Koch, chairman of the management board of Metro Group, added: "In Booker, we have found the right buyer for our challenging UK business, which has shown an unsatisfying performance. Booker is very well positioned in the UK market, with a great brand perception and vast experience in managing product ranges and in customer services.
"Therefore we are convinced that this new setup meets all requirements for future success in the UK, while allowing Metro Group to further concentrate on countries within our strategic focus."
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