UK: Bibby Group seeks full ownership of Costcutter
Bibby Line, a Liverpool-based business services group is in talks to increase its interest in Costcutter to 100%
The majority shareholder of UK convenience retailer Costcutter is in negotiations to buy full ownership of the UK convenience retailer.
Bibby Line, a Liverpool-based business services group took a 51% stake in Costcutter in 2007 and is in talks to increase its interest in Costcutter to 100%.
A report in the Liverpool Daily Post stated that Costcutter executive chairman Colin Graves revealed that the two parties had begun negotiations at the York-based chain's 25th anniversary celebrations.
When contacted by just-food today (15 September), Bibby Line confirmed the negotiations were taking place but refused to comment further. It said there is no specific timescale for the takeover although it indicated there could be an announcement early next week.
A spokesperson from Costcutter said: "We're not commenting any further on this at present."
- 2017: three major drivers of M&A strategy
- Comment: Premier has more to ponder than Brexit
- The food market in 2017 - consumer trends and M&A
- just-food 2017 Survey - your thoughts on growth
- Food market in 2017: need-to-know US trends
- Premier Foods issues profit warning
- Nestle mum on Mead Johnson takeover talk
- UK's Bakkavor plays down IPO "speculation"
- Mondelez sells Vegemite to Bega
- Kellogg to slash 250 jobs