Booker announced this morning the planned purchase of Musgrave Retail Partners GB Limited, which includes Londis and Budgens, for £40m.
There are 1,630 convenience stores currently trading under the Londis fascia, with total sales of £504m and another 167 Budgens stores, with sales of £329m in 2014.
Booker announced its plan to develop the two Musgrave brands alongside its own Premier and Family Shopper stores. The statement issued today said that Budgens and Londis customers will retain their brands, but will benefit from a better local and national supply chain. It also states that the increased scale and operational efficiency should help lower prices, and retailers will benefit from a better delivery cash and carry service.
Charles Wilson, chief executive of Booker 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.”
Read the initial reactions from Premier and Londis retailers here.