Retail giant gobbles up £274m-turnover food group
Value retailer B&M has swooped for Yorkshire’s Heron Food Group in a £152m deal.
Heron, a 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 has now acquired the £274m-turnover retailer as it looks to expand its convenience brand. Last year Heron returned pre-tax profits of £8.6m. 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 EBI... 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...
