Asda launches new and larger value range and kills off Smart Price in race to kickstart stalling growth March 29, 2022 Supermarket giant Asda, which was bought by the Issa brothers and backers TDR Capital last year, said this afternoon it will axe its Smart Price range and replace it with new Just Essentials by Asda products. In fact, Asda is launching a new and larger value range, amid the cost of living crisis, as the [...]
Boots IPO still possible if private equity firms do not cough up, says owner March 27, 2022 One of the owners of high street chemist Boots says floating the chain as a standalone firm is not off the table if private equity firms do not cough up a suitable bid.
Co-op heralds first female CEO as Steve Murrells steps down March 25, 2022 Co-op Group CEO Steve Murrells is to step down, paving the way for the supermarket’s first female boss. Shirine Khoury-Haq, who currently holds the role of group CFO and CEO of Co-op Life Services, will become interim CEO this spring. Exiting boss Murrells will step down after the supermarket’s AGM in May and said the [...]
Apollo lines up banks for £6bn Boots bid as takeover race whittles down March 24, 2022 US investment giant Apollo has become a major frontrunner in the bidding race for the UK’s biggest high street chemist, as it lines up banks to finance a £6bn takeover offer for Boots. The New York-based firm is in talks with Bank of America, Credit Suisse and Royal Bank of Canada to support the bid, [...]
Food industry: Government must act to tackle cost of living crisis as prices spike March 22, 2022 A food industry leader has called on the government to intervene to ease supply chain pressures on food firms as a cost of living crisis looms. Food and Drink Federation boss Karen Betts has urged ministers to act to help millions of households as they face rising food and energy prices this spring. Measures urged [...]
Boots bidders set to meet with bosses as takeover race continues March 20, 2022 Bidders for the high street chemist Boots are preparing to meet with the chain’s bosses this week as the race to takeover the firm intensifies.
Firm behind loyalty schemes for Pret A Manger, Asda and Pizza Express recovers from pandemic March 16, 2022 The marketing firm behind loyalty schemes for brands such as Asda, Pret A Manger and Pizza Express is back in the black after a small pandemic loss. Eagle Eye Solutions, which manages schemes for major chains through coupons,, subscriptions and gift services, announced its half-year figures up to January, with £600,000 in profit, after a [...]
Shop price inflation hits highest rate in more than a decade March 2, 2022 Shop price annual inflation surged to the highest rate since November 2011 last month, as households’ concerns about the cost of living increases. The rate hit 1.8 per cent in February, an increase from 1.5 per cent in January, according to the British Retail Consortium (BRC) and NielsenIQ. Non-food inflation surged to 1.3 per cent [...]
Discount retailers benefit from cost of living crunch as shoppers head to Aldi and Lidl March 1, 2022 Grocery price inflation hit a new high of 4.3 per cent last month, with budget supermarkets luring shoppers in as the cost of living intensifies. Fresh data from Kantar reveals the fastest rate of inflation since September 2013, with the exception of the start of the pandemic when households panic bought essentials. Aldi and Lidl [...]
Bain and CVC pull out of Boots takeover bid March 1, 2022 One of the main bidders vying to snap up high street chemist Boots has abandoned its bid for the firm, in a move which could see Asda now move into pole position for a takeover.