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Morrisons’ takeover of McColl’s is expected to be cleared after the supermarket giant told regulators it would sell 28 convenience stores to push the move through.
The PA news agency examines some of the key questions after private equity firm CD&R launched a bid to buy the supermarket chain.
The grocer told the City that it was now in discussions with the UK’s Takeover Panel, which regulates acquisition activity, to start an auction process.
The British Safeway was founded in 1962 by the American Safeway Inc., before being sold to Argyll Foods in 1987. It was later listed on the London Stock Exchange. [citation needed] It was purchased by Morrisons in March 2004. Most of its 479 shops were rebranded as Morrisons, with others being sold.
Morrison's Cafeterias was a chain of cafeteria-style restaurants, located in the Southeastern United States with a concentration of locations in Georgia and Florida. Generally found in shopping malls, Morrison's primary competition was Piccadilly Cafeterias. It was especially popular in Florida, with its high proportion of retirees.
On 1 November 2022, Morrisons announced it would close 132 loss-making McColl's stores (putting 1,300 jobs at risk) over the remainder of the year, and convert the remaining McColl's stores into Morrisons Daily stores within the next two to three years, bringing the number of Morrisons Daily stores to more than 1,000.
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In Northern Ireland Morrisons sold the Safeway stores, and a store in Bangor that opened after the Morrisons takeover, to Asda. [21] Waitrose purchased five stores in 2005, [ 22 ] followed by six more on 18 July 2006, including the former Safeway store in Hexham , Northumberland, which became England's most northerly Waitrose branch. [ 23 ]