Acquisition11 May 2022 15:05
Acquisition
We beleve the acquisition of all of the Mccolls stores is a good outcome for Mccolls and all it’s stakeholders, as wel as beng a good strategc fit with Morrisons. The acquistion offers stabilty and continuity for the Mccolls businessabd, in particular, a better outcome for employees, and for the pensioners, than alternatives. And we see significant opportunities for future growth as we begin to work together even more closely.
For the time being Mccolls will be held completely separate from Morrisons and will be run by the management team, while Morrisons seeks clearance from the Competition and Markets Authority to be fully integrating the business which is normal in a situation like this.
At the same time the Morrisons team will be reviewing and starting to understand the Mccolls business in more detail holding Mccolls and Morrisons separately for the time being.