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.
