Published Date:
18 January 2008
TOP-END grocery retailer Waitrose has admitted that it is interested in buying some of Somerfield's 955-strong chain of UK stores.
The John Lewis Partnership-owned firm's managing director, Mark Price, has ruled out a £2.5 billion bid for Somerfield but confirmed that he is interested in picking up some sites from the convenience store chain.
It comes as Somerfield said it has had an "exceptional" Christmas, with like-for-like sales rising 6.7 per cent in the three weeks to January 5.
The strong performance is likely to make some of its sites all the more attractive to companies like Waitrose, the Co-operative Group, Sainsbury and Morrison's. Mr Price said: "There is no doubt about our ambition to grow Waitrose and if the right stores came up we'd be interested in buying them."
Somerfield, which is owned by a private equity consortium that includes Robert Tchenguiz, has appointed Citigroup to hold an auction of the group.
Information packs have been sent to various potential bidders, including Waitrose, Marks & Spencer, Aldi and Lidl.
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Last Updated:
18 January 2008 11:06 AM
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Source:
Edinburgh Evening News
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Location:
Edinburgh
