What will happen now?
Tesco, the UK’s biggest supermarket has taken the decision to buy the UK’s biggest wholesaler group Booker, in a huge £3.7bn deal.
The firm believes the deal will create the “UK’s leading food business”.
Booker supplies a huge amount of goods to 700,000 convenience stores, grocers, pubs and restaurants.
Booker also owns other convenience store brands such as Premier, Londis and Budgens.
Under the terms of the deal, Booker shareholders will own around 16 per cent of the combined group.
With the decision of combining both Tesco and Booker, its means the supermarket giant can expand into the restaurant and takeaway sectors.
Speaking to the BBC’s Today programme, Tesco chief executive Dave Lewis said: “Wherever food is prepared and eaten - ‘in home’ or ‘out of home’ - we will meet this opportunity with the widest choice and best service available,”
Thu, 12 Oct 2017