Morrisons sells forecourts arm to group under same PE owner in £2.5bn deal January 30, 2024 Supermarket Morrisons has completed a £2.5bn deal to sell its 347 petrol stations to Motor Fuel Group (MFG). Both Morrisons and MFG are owned by Clayton Dubilier & Rice (CD&R), the American private equity firm who bought the supermarket three years ago. As part of the transaction Morrisons will take a minority stake of approximately [...]
Cost of living crunch sinks teeth into Morrisons profit September 28, 2022 Morrisons has posted sliding sales after the retailer was recently knocked out of the Big Four by discounter rival Aldi. In financial results for the 13 weeks to 31 July, the group posted like-for-like sales, excluding fuel, down 3.1 per cent on the comparable period a year ago. The supermarket pointed to “unprecedented inflationary pressures” [...]
Morrisons inks £220m sale of warehouses as it aims to become ‘more popular’ December 9, 2022 Morrisons has inked a £220m sale and leaseback transaction of seven logistics properties, as it aims to become “more popular and more accessible.” The supermarket – which is owned by New-York private equity titan Clayton Dubilier & Rice – announced the completion of the deal with asset manager ICG on Friday. Morrisons has undertaken to [...]
Food shortage: Tesco, Sainsbury’s, Asda, Lidl and Morrisons warn salad will not be on the menu for ‘a few weeks’ March 1, 2023 Brits are being advised to avoid salads for the next “few weeks” as supermarkets have kept restrictions in place on tomatoes, peppers, cucumbers and lettuce. Reports of adverse weather conditions in the Mediterranean has forced Tesco, Sainsbury’s, Asda, Morrisons and Lidl into restricting the sale of produce. This comes after social media users took to [...]
Morrisons slashes prices AGAIN as supermarket attempts to woo Aldi and Lidl shoppers back to its aisles March 20, 2023 Morrisons is slashing prices for the third time in three months as it attempts to drag shoppers back from value retailers including Aldi and Lidl. The supermarket said it was cutting the prices of 460 items such as beef mince, cleaning products and fruit, in a move that followed on from a round of price [...]
RAC: Tesco, Sainsbury’s, Asda and Morrisons have more than doubled fuel margins since Ukraine war July 22, 2023 Supermarkets have more than doubled their margins on fuel since the Ukraine war began, according to research from motoring firm the RAC. The ‘big four’ supermarkets – Tesco, Sainsbury’s, Asda and Morrisons – have seen the profits they make per litre of diesel and petrol rise from 4.7p to 10p since the Russian invasion started in [...]
Supermarket wars: Morrisons puts £25m into price cuts in bid to break back into ‘big four’ February 20, 2023 Morrisons is cutting prices across a range of its own-brand products as it joins a string of supermarkets battling to retain customers while living costs soar. The supermarket, which was recently pushed out of the “big four” UK grocers by discounter Aldi, said it has invested £25 million into the price cuts. Some 64 cupboard [...]
Morrisons, Tesco and Sainsbury’s suspend sales of disposable barbecues amid heatwave August 12, 2022 Morrisons, Tesco and Sainsbury’s are among a slew of household names to halt sales of disposable barbecues owing to warm weather concerns. There have been warnings about potential fires due to high temperatures this summer, as large swathes of the country have been categorised as drought status. Morrisons said in a statement on Friday: “In [...]
More than one thousand McColl’s jobs at risk under Morrisons’ plans November 1, 2022 Morrisons has announced that around 1,300 McColl’s workers are facing redundancy, as it prepares to shutter some loss-making stores. The supermarket, which rescued the ailing McColl’s from collapse earlier this year, has set out its plans for the convenience store business. Some 132 stores have been identified as having “no realistic prospect of achieving a [...]
Morrisons mulls sale of warehouses and fisheries in £600m deal June 12, 2022 Morrisons’ private equity owner is scouting for a buyer for its estate of warehouses, fisheries and food manufacturing hubs in a sale worth more than £600m. The New York private equity titan is mulling a sale-and-leaseback transaction in an endeavour to power returns from its £7bn takeover of the British grocer, according to a report [...]