Leahy invests in tech firm
FORMER Tesco boss Sir Terry Leahy has invested £2m of his personal wealth into a British software startup.
He has bought a ten per cent stake in MetaPack, a small technology firm that co-ordinates customer deliveries for several big retailers.
The company counts Sir Terry’s former employer, from which he stood down as chief executive in March, amongst its clients.
MetaPack, which provides order delivery management systems, also works with retailers John Lewis, Marks & Spencer and WH Smith.
Sir Terry’s support will lend weight to the firm, which he believes could revolutionise the supply chain systems of large retail chains.
After leaving Tesco in March, he has devoted his time to building a portfolio of private investments.
Sir Terry is thought to have a personal fortune of about £48m to invest.
He has also stated that he would prefer to focus on investing than heading up another major firm.
The 55-year-old Liverpudlian has since joined US private equity giant Clayton Dubilier & Rice as a senior adviser, where he is believed to be working on plans for a potential bid for British motor recovery firm RAC.
Sir Terry served as Tesco chief executive from 1997 until March this year, transforming the fortunes of the supermarket giant in his time at the helm.
Under his leadership, the retailer caught and displaced market leader J Sainsbury.
Amongst his other investments since leaving Tesco is a stake in “safe” cigarette producer Kind Consumers.
SIR TERRY’S INVESTMENTS SINCE LEAVING TESCO
Sir Terry has bought a ten per cent stake in MetaPack for £2m. The firm specialises in coordinating customer deliveries for big retail firms such as John Lewis and WH Smith.
Leahy bought into “safe” cigarette producer Kind Consumers earlier this month. The firm has developed a cigarette that satisfies the cravings of smokers without the deadly side-effects
Former Marks & Spencer chief Sir Stuart Rose is also invested in the Hut Group, a fast-growing internet retailer. Sir Terry holds a three per cent stake in the company which owns several specialist websites including Zavvi.com
The former Tesco boss is working as a senior advisor to US private equity firm Clayton Dubilier & Rice. He has said he does not want another top management job, although he is said to be helping the firm make a bid for RAC
Sir Terry invested in Stuckonhomework.com after mums Helen Royle and Teresa Watts wrote to him asking for support in launching their educational website for children