Retail giant swoops in for £152m purchase of food group
Value retailer B&M has swooped for Yorkshire’s Heron Food Group in a £152m deal.
Heron, another discount retailer, operates predominantly in the North from its base in North Ferriby, East Yorkshire, with 251 stores in its portfolio.
B&M subsidiary EV Retail, acquired the £274m-turnover retailer. Last year Heron returned pre-tax profits of £8.6m and it employs 3,800 people.
Of the total £152m deal, £112.1m was paid by B&M today, with £12.8m deferred and based on EBITDA performance. The remainder was satisfi... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
