The owners of Somerfield have put the UK grocer up for auction after receiving expressions of interest in the company, just-food understands.
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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.
just-food understands that the consortium has appointed Citigroup to study those expressions of interest, with rival retailers Morrisons, the Co-op and Asda touted among the potential buyers.
A Somerfield spokesperson declined to comment and refused to speculate on the identity of the potential suitors. Members of the consortium have remained equally tight-lipped over the company’s future.
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By GlobalDataLast week, the Co-op moved to play down speculation linking it with Somerfield. The company said it is looking to grow its food business but said its focus was on bedding down last year’s merger with United Co-operatives.
A spokesman for the company said today (17 January) that its position “hasn’t changed”. He added: “We’re not commenting on speculation.”
Asda was equally coy but hinted that its plans for this year centred more on developing its existing formats, rather than expanding into the convenience channel.
“We’d never say never but our current formats – we have our Supercentres and our food stores – are successful and we would rather concentrate on those for now,” an Asda spokesperson said.
Officials at Morrisons could not be reached for immediate comment.
