The takeover of Seabrook Crisps, revealed by The Grocer on Thursday, has hit the papers this morning. The Telegraph reports that a deal was signed on Friday afternoon between the family-owned snacks business and private equity firm LDC for £35m. The Times adds the Bradford-headquartered company was gobbled up in a management buyout backed by LDC, which has taken a majority stake. It is thought the new owners will look to expand distribution across the country.
Outspoken Iceland boss Malcolm Walker this weekend launched a scathing attack on “brainless” rivals who have dragged their feet over paying higher wages to staff. He added that major supermarkets had a “moral” duty to pay staff higher wages and dismissed the notion that staff benefits made up for low wages (The Mail on Sunday).
Sainsbury’s CEO Mike Coupe has pledged to “reinvent” the supermarket and “push the boundaries” of shopping in an attempt to fight back against declining sales. In an interview with The Sunday Telegraph marking his first anniversary in the job the supermarket boss said he was drawing up plans for six stores across the country that will be revamped in a new format. Coupe added that the death of the out-of-town superstore had also been “exaggerated”. “Our challenge is to reinvent the superstore for the next generation, for the future.”
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