Updates

B&M European Value Retail - Acquires Heron Foods Group

October 2017

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The shares hit new highs after discount retailer B&M announced the acquisition of Heron Food for £152m including acquired debt and £12.8m deferred payment. The deal takes B&M squarely into the growing and consolidating discount convenience retail segment.Heron has 251 stores predominantly in the North of England with stores averaging c 2,500 sq ft and provides the opportunity for B&M to roll out a complementary brand as well as gain scale in frozen and chilled categories plus every day groceries like milk and sugar. Although B&M hasn’t provided a target, there should be chunky cost savings in areas like head office, supply chain integration (ambient food) and a possible roll out of B&M’s ...

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