Upmarket UK retailer Waitrose is interested in snapping up a number of Somerfield’s stores, MD Mark Price has said.
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The owners of Somerfield have put the UK grocer up for auction after receiving expressions of interest in the company.
Private equity firm Apax Partners, Barclays Capital and property tycoon Robert Tchenguiz bought the UK’s fifth-largest grocer for GBP1.8bn (US$3.5bn) two years ago.
However, several unnamed parties have indicated they would be interested in buying the convenience store chain, which runs over 900 stores in the UK.
Price confirmed that Waitrose could look to buy some Somerfield stores, although he ruled a bid for the whole business.
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By GlobalData“There is no doubt about our ambition to grow Waitrose and if the right stores came up we’d be interested in buying them,” Price told The Times.
A spokesperson for Waitrose refused to comment directly on Somerfield but echoed Price’s views on Waitrose looking to grow through acquisition. “We’ve made no secret about wanting to grow the business,” the spokesperson told just-food.
A spokesman for Somerfield declined to comment.
just-food understands that Somerfield’s owners have appointed Citigroup to study the expressions of interest in the business, with rival retailers Morrisons, the Co-op and Asda touted among the potential buyers.
