Londis (United Kingdom)

Last updated

Londis
Type Private
IndustryRetail
Founded1959
Area served
United Kingdom
ProductsGroceries
Parent Tesco [1] (via Booker Group [2] )
Website www.londis.co.uk

Londis is a symbol group in the United Kingdom with over 2,000 stores nationwide. Tesco owns the brand, following its 2018 purchase of Booker Group. [3] [2] [1]

Contents

Although it was formerly a subsidiary, the Londis brand in Ireland is no longer related to Londis (UK).

Etymology

The name Londis is a contraction of "London District Stores". [4]

History

Foundation

A Londis in London in 2007 LondisFermePark.jpg
A Londis in London in 2007

Londis was established in Great Britain in 1959 by Kevin Stanley-Adams as a communally owned company, with each retailer owning a share in the parent company. [4]

Acquisition by Musgrave Group

However, in June 2004, the parent company was sold to the Irish Musgrave wholesale chain with a payment of £31,000 being made to each retailer who owned a stake, [5] bringing it under the same ownership as Budgens, which has now adopted a similar franchise based business model. This acquisition proved controversial, [6] [7] with the CEO of Musgrave in the United Kingdom, Eoin McGettigan, steering through the choppy waters of member revolts and counter offers from others backed by Icelandic banks. [8] A separate, but wholly owned subsidiary company, Musgrave Retail Partners GB Ltd. was formed to supply the stores, until it was sold to Booker Group in 2015. [9] In May 2015, Londis' parent company Musgrave Group confirmed it had reached an agreement to sell Budgens and Londis for £40 million to the wholesaler Booker Group, subject to regulatory approval. [2]

Acquisition by Booker Group

Since May 2015, the company has been owned by Booker Group, which purchased Londis and its sister company Budgens from the Musgrave Group for £40 million.

Tesco plc acquired Booker Group in 2018. [1]

Operations

The current Londis retailer network is in excess of 2,200 stores and forecourt shops located throughout England, Scotland and Wales. [10] There is a Londis at every Butlins, Pontins and Haven Holidays camp. [4]

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References

  1. 1 2 3 "Tesco and Booker merger". 29 January 2020.
  2. 1 2 3 "Booker Group to buy Budgens and Londis". BBC News. 21 May 2015. Retrieved 21 May 2015.
  3. ↑ "Booker Retail Partners (GB) Limited". Endole. Retrieved 2 August 2016.
  4. 1 2 3 "Londis - Grocery.com". Perpetual Media Group. 14 September 2011. Retrieved 10 October 2018.
  5. ↑ Muspratt, Caroline (23 June 2004). "Londis retailers back Musgrave's windfall takeover". Telegraph. Retrieved 2 August 2016.
  6. ↑ Pratley, Nils (19 January 2004). "Trouble in store". The Guardian . Retrieved 10 October 2018.
  7. ↑ "Anger over Londis directors' payout". Manchester Evening News. 12 August 2004. Retrieved 10 October 2018.
  8. ↑ "Londis deal sees shopkeepers ring up £30,000 each". The Guardian . 23 June 2004. Retrieved 10 October 2018.
  9. ↑ "Booker Group completes £40m acquisition of Londis and Budgens". Retail Week. 14 September 2015. Retrieved 10 October 2018.
  10. ↑ "Exclusive: Londis reaches 2,000 stores after fall of Conviviality". betterRetailing. 9 May 2018. Retrieved 18 August 2020.
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