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Booker Group to acquire rival Makro Wednesday, 30th May 2012
The UK’s largest wholesale operator will acquire rival business Makro UK from the Metro Group, in a combined share issue and cash deal worth £139.7 million in total.
According to a report by the BBC, Booker will buy Makro in exchange for new shares representing a 10 per cent stake in Booker, along with a cash payment of £15.8 million.
Charles Wilson, chief executive of Booker said in a company statement: "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."
The deal is yet to be approved by Booker shareholders, who will be asked to vote on the acquisition next month.