Acquisition of 38 Convenience Stores

Wm Morrison Supermarkets Limited

07 May 2024

 

7th May 2024 

MORRISONS TO ACQUIRE 38 CONVENIENCE STORES

IN THE CHANNEL ISLANDS

Wm Morrison Supermarkets Limited ("Morrisons") acquired today 38 stores in the Channel Islands from its long-term partner, SandpiperCI (the "Acquisition"). All of the stores that are subject to the Acquisition are currently supplied by Morrisons in some capacity and 19 operate under the Morrisons Daily fascia. The stores are located on the islands of Jersey, Guernsey and Alderney, and in the last 12 months had a turnover of £124.5m.

Morrisons's relationship with SandpiperCI dates from 2018 when the two companies signed a long-term franchise and wholesale supply agreement.  Since then, 19 SandpiperCI stores have been converted to the Morrisons Daily format.  

Under the terms of the transaction, approximately 520 SandpiperCI store, operations and managerial colleagues will become Morrisons colleagues.

Morrisons has approximately 1,600 convenience stores across the UK, of which approximately 600 operate as franchise stores. 

Rami Baitieh, Morrisons Chief Executive, said:

"We have had a long and successful supply and franchise partnership with SandpiperCI and we have a strong relationship with the business. I look forward to welcoming 520 more colleagues into the Morrisons family, together with 38 popular and well-located convenience stores. 

"Our convenience business is now well set and growing rapidly.  The addition of a further 38 stores will bring us another opportunity for growth and a strong position in the important Channel Island convenience market."

About Morrisons:

Headquartered in Bradford since 1899, Morrisons is a British food retailer with more than 100,000 colleagues in approximately 500 supermarkets and 1,600 convenience stores across the UK, of which approximately 600 operate as franchise stores. We are British farming's single biggest direct customer with all Morrisons branded fresh meat and everything on our butchers' counters being 100% British. Foodmakers and shopkeepers are at the heart of everything we do. See also our website: https://www.morrisons-corporate.com/

Forward-looking statements

Certain statements in this announcement are forward-looking. Where the announcement includes forward-looking statements, these are made by the directors in good faith based on the information available to them at the time of their approval of this report. Such statements are based on current expectations and are subject to a number of risks and uncertainties, including both economic and business risk factors that could cause actual events or results to differ materially from any expected future events or results referred to in these forward-looking statements. Unless otherwise required by applicable law, regulation or accounting standards, Morrisons undertakes no obligation to update any forward-looking statements whether as a result of new information, future events or otherwise.

 

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