Tesco, Britain’s biggest supermarket group, is to buy Booker, the UK’s largest food wholesaler and the company behind Londis and Budgens, in a £3.7bn deal. Tesco owns the 850-strong One Stop convenience store chain while in 2015 Booker acquired the Londis and Budgens chains, which are operated by franchisees but are supplied by Booker. Why is Tesco buying Budgens' owner – and will it affect shoppers? He was confident that Booker’s convenience store brand names Londis, Budgens, Premier and Family Shopper would remain. Under the terms of the deal, each Booker shareholder will receive 0.861 Tesco shares and 42.6p in cash, worth 205.3p a share.

Source: The Guardian January 27, 2017 07:18 UTC