Morrisons agrees to £6.3B takeover by Fortress-led group
Morrisons, the U.K.’s fourth-largest supermarket group, has agreed to a takeover led by SoftBank-owned Fortress Investment Group that values Britain’s fourth-largest supermarket chain at £6.3 billion and tops a rival offer from a U.S. private equity firm. The offer from Fortress, along with Canada Pension Plan Investment Board and Koch Real Estate Investments, exceeds a […]
Picota Cherries: Tools and Tips To Maximise Retail Sales
As greater volume arrives from Spain this season, UK retailers are encouraged to market the stalkless variety as healthy, versatile, affordable, seasonal and unique. The European Picota cherry season is underway in the UK, with excellent quality fruit already arriving from the Valle del Jerte (Jerte Valley) in Spain. The UK remains the biggest importer […]
Report: Amazon expected to eclipse Tesco as top UK retailer by 2025 as online grows
According to a new report released by Edge Retail Insight, Amazon will overtake Tesco as the UK’s top retailer within the next four years. Though Tesco’s current sales are nearly double that of Amazon’s (£64bn compared with £36.3bn in 2020), the newer retailer is quickly gaining ground on its competitor. Edge by Ascential, whose research […]
Retail roundup: Seedless lemons arrive at Tesco; Sainsbury’s joins Black British Network
Seedless lemons never really took off in the UK years ago after many trials failed to produce a strong, stable supply of good-tasting fruit. But Tesco said it may have found the answer to bringing consistent seedless lemons to its stores – by looking to South Africa and Spain. Starting this week, the retailer said […]
Retail roundup: Asda CEO Burnley stepping down after this year
Asda CEO and President Roger Burnley said he is exiting the business next year once the supermarket makes its full transition to new owners the Issa brothers and TDR Capital and once they have a successor in place, the company said. Burnley, 54, who joined the company five years ago, has been the chief executive […]
