B&M acquires Heron

Value retailer enters convenience market with £152m acquisition

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Posted 02.08.2017 | Retail

Value retailer enters convenience market with £152m acquisition

Discount retailer B&M has acquired Heron Food Group's grocery chain of 251 stores in a deal worth £152m.

The deal was completed today (2 August).

B&M boss Simon Arora said the move would add "proven discount convenience grocery brand to our own structural growth story." He pointed out that while the convenience sector was enjoying a period of rapid growth and success, much of it was based on premium-priced products.

B&M said Heron's turnover hit £274m in 2016, with 3 per cent you growth and pre-tax profits of £8.6m.

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