The billionaire family that has taken a £200m stake in Sainsbury’s discussed a takeover of the supermarket. Dawood Pervez, the MD of Bestway Wholesale and son of the company’s founder, was advised to make a bid for the supermarket 10 months ago. (The Telegraph £)

Bestway billionaire sparks Sainsbury’s takeover talk, writes The Times. After years of rampant dealmaking in Britain’s food retailing sector, few observers expect Sir Anwar Pervez and Bestway to sit quietly on the sidelines forever. (The Times £)

Sainsbury’s shares soared after family-owned wholesaler Bestway snapped up a huge chunk of the grocer (The Daily Mail). The move from the owner of Costcutter, the cash-and-carry chain, is the latest sign of interest in UK supermarkets from private capital (The Financial Times £). The move makes Bestway the sixth-largest shareholder in Sainsbury’s (The Guardian).

The FT’s Lex column writes: “A purely passive financial investment might have some merit. Sainsbury’s recently raised its full-year guidance after strong Christmas trading. Its tilt towards better value food in recent years is helping fend off tough competition from Aldi and Lidl… As rising costs put the squeeze on every part of food supply chains, greater collaboration between Bestway and Sainsbury’s cannot be ruled out.” (The Financial Times £)

Looking at Bestway and Sir Anwar Pervez, The Guardian writes: “The journey from having one corner shop to being the sixth largest shareholder in Sainsbury’s is an entrepreneurial journey that few could have predicted”. (The Guardian)

Asda is facing the prospect of strike action unless it makes significant concessions on its self-styled “efficiency” plans that have placed thousands of jobs at risk, a union source has suggested. (Sky News)

Caffè Nero has returned to pre-pandemic sales in its core British business, culminating in December sales averaging 110 per cent of pre-Covid levels. (The Times £)

The Mail interviews Iceland boss Richard Walker in his first interview since officially taking the reins from his father Malcolm, the firm’s founder, as chairman earlier this month. Christmas was a record breaker for the £4bn family firm. And, if all that were not enough, the 42-year-old is launching a bid to join Westminster’s elite. (The Daily Mail)

The number of women appointed to chief executive roles within the British retail industry hit a record high last year, research has shown. (The Times £)

The BBC looks at soaring prices of onions in the Philippines. According to official statistics, the price of onions in the country surged in to around 700 pesos ($12.80; £10.40) per kg last month. That is more than the cost of meat, and the Southeast Asian country’s daily minimum wage. (The BBC)