The £1.082bn offer for Somerfield is one step nearer completion after shareholders this week voted overwhelmingly in favour of the deal, sparking further speculation about the chain’s future.
Seymour Pierce analyst Richard Ratner claimed any plans that buyer Violet Acquisitions had for the group would be announced quickly after the deal’s ratification in court and finalisation on December 21.
“Bearing in mind that Violet is working with existing management, it is obviously going to have a plan,” he said. “They will make an announcement pretty quickly if they are going to do anything major, such as selling off Kwik Save or property deals.”
Another analyst claimed the deal was likely to be the final nail in the coffin of Kwik Save, Somerfield’s sister retailer. However, one retail property consultant said although it would be natural for the new owners to divest some properties, it was not likely to do so immediately.