Welwyn Garden City’s Tesco group in £3.7billion merger
PUBLISHED: 14:27 27 January 2017 | UPDATED: 14:32 27 January 2017
Two major Welwyn Hatfield retail employers have announced a multi-billion pound merger, creating Britain’s largest food-selling business.
The boards of Tesco, which is based in Shire Park, Welwyn Garden City, and Booker Group, which operates a warehouse off Frobisher Way on the Hatfield Business Park, have agreed a £3.7billion “share and cash deal.”
Tesco chief executive Dave Lewis said: “Tesco has 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.”
Some business analysts believe the proposed merger may be challenged by the Competition and Markets Authority.
Booker owns the Londis and Budgen store chains brands.
Tesco has declined to comment on whether the merger is related to its recent decision to close its distribution centre in Welham Green.
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