British food wholesaler Booker has bought Makro's British activities from the German Metro Group in a deal worth £140 million (€175 million). The Germans receive a 9.99% participation in the Booker Group and an extra 20 million euro in cash.
In the Telegraph, Metro Group CEO Olaf Koch admitted to be happy with the transaction: “We are convinced that this new setup meets all requirements for future success in the UK, while allowing Metro Group to further concentrate on countries within our strategic focus”, he said.
Booker CEO Charles Wilson on the other hand thought that “Through working together, Booker and Makro UK will improve choice, prices and service for retailers, caterers and SMEs throughout the UK. Together we will offer a wide range of foods and non-foods to our professional customers, via the internet, delivery and cash and carry.”
Makro UK is the first sale that Olaf Koch concludes as Metro's new CEO. A rather surprising move perhaps, as hypermarket chain Real and department store chain Kaufhof were much higher on the 'to sell list'. While Makro UK's selling process went very smoothly, Metro still has to wait for these two transaction to be concluded...