Booker shareholders have given the green light to the cash & carry giant’s acquisition of rival Makro.

Shareholders waved through the deal, announced in May and worth around £140m, at a general meeting this morning (2 July).

The acquisition is now expected to complete on Wednesday.

“While not without risk and some short-term dilution, there is no management team better able to turn the Makro business around,” said Investec analyst Nicola Mallard.

“Alongside continued growth in the core Booker chain, we expect Makro to accelerate the group’s medium-term growth capability.”