UK grocery retailer Somerfield has said that it has reached agreement with the consortium consisting of Apax Partners Worldwide, Barclays Capital and the Tchenguiz Family Trust on the terms of a recommended cash offer for Somerfield at a price of 197p (US$3.44) per share.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more


Somerfield said that the agreement was subject to finalising financing, and that a further announcement would be made later on Friday.


“There can, however, be no certainty that an offer will be made,” the company added.


Last week London and Regional Properties (L&R) announced that it had decided not to proceed with an offer for Somerfield, leaving the Tchenguiz consortium as the only party left in the bidding process.


The Takeover Panel had set a deadline of 14 October for takeover offers.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now