Tesco and Booker agree £3.7bn merger

By Sophie Witts contact

- Last updated on GMT

Tesco and Booker agree £3.7bn merger

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The £3.7bn merger between supermarket giant Tesco and wholesaler Booker will improve the choice and price of products available to caterers, the companies have said.

The deal, which values Booker at £3.7bn, is expected provide both firms with combined savings of £175m.

The companies claim the deal will also allow them to offer ‘enhanced digital and delivery service’ options to small businesses.

It comes after Tesco sold the giraffe restaurant group to Boparan Restaurant Holdings​ and the Harris & Hoole coffee chain​ to Café Nero last June with the intention of shifting its focus to its core offering.

'Major benefits' for customers

Tesco CEO Dave Lewis said: “Tesco have made significant progress in turning around our UK retail business.

“This merger with Booker will further enhance Tesco’s growth prospects by creating the UK’s leading food business with combined expertise in retail, wholesale, supply chain and digital.

“Wherever food is prepared and eaten in home or out of home, we will meet this opportunity with the widest choice and best service available.”

Booker CEO Charles Wilson added that the company was committed to improving its offering for customers.

“We believe that joining forces with Tesco offers the potential to bring major benefits to end consumers, our customers, suppliers, colleagues and shareholders," he said.

Related topics: Business, Restaurants

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