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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 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.
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.
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]
At the time of the announcement, the McColl's website listed a total of 1149 stores, with 755 branded McColl's, 270 branded Morrisons Daily, 116 branded Martin's and eight branded RS McColl. [28] On 9 May, Morrisons agreed terms with the administrator to acquire McColl's in a pre-packaged insolvency arrangement. [16]
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Chain of convenience shops created by Morrisons initially under M Local name; sold as part of re-organisation and was renamed My Local in September 2015. RS McColl's: Scottish McColl's stores, bought by Morrisons in 2022 and converted by September 2024. 7-Eleven: Taken over by Budgens [47] Convenience shop chain [48] Sperrings 1985 [49] Became ...