Essential reading for retailers and suppliers in the home improvement market

Leahy expresses delight at Tesco takeover of Dobbies

Published: 18 August 2007
Tesco chief executive Sir Terry Leahy said the company was 'absolutely delighted' after it finally won control of Dobbies.
Leahy expresses delight at Tesco takeover of Dobbies
Although pleased with the Dobbies deal, the garden centre chain's board now has an unusual structure with Sir Tom Hunter holding 29% of the shares.

Both sides said they were comfortable with the board position, however the supermarket chain will have to rely on the support of Sir Tom Hunter to carry out its investment plans for the business.

Tesco will have to work hard with Sir Tom Hunter in the knowledge that he owns Wyevale and Blooms.

The management may also have to fund expansion of the garden centres with existing Dobbies reserves if Sir Tom is unwilling to sanction development of the brand.

Last night, Tesco said it had gained the support of shareholders representing 53.1% of Dobbies, less than two days before the bid was due to close.

A West Coast Capital spokesman congratulated Tesco 'over a hard-fought contest' and added it now looks forward to working with Britain's largest retailer.

Comments


(Your email address will not be published)
Already Registered?
Sign In
Not Yet Registered?
Register
Printable View E-mail Bookmark
*

Latest reader comments

re: Carl Kammerling Fusion 2021 Trade Promotion – Filled with exciting new deals!

MIKE
GOOD AFTERNOON,WE USED TO DEAL WITH YOUR COMPANY MANY YEARS AGO, BUYING LARGE STOCKS OF DELETED AND RETURNS ITEMS.IF YOU HAVE ANY CLEARANCE ...

re: Toolbank

Bilal Ali
Hi Trust you are doing great. My name is Bilal Ali. I am the owner of Azaan International Ltd, a company specialized in products. We are ...

re: Woolworths staff reunited by new website

John Zullo
Hi I'm trying to find Lisa assistant manager of woolworths in the metro centre 1999 I only now her by her 1st and middle name Lisa Marie ...

re: Planning application submitted for new Homebase store in Abingdon

Gel
They closed their store last year!http://www.oxfordmail.co.uk/news/17570442.homebase-abingdon-starts-closing-sale/...

re: Latest update on Green Homes Grant and implications for homeowners and landlords

John Hart
After applying for a green homes how long will it take for a decision? thanks...

Most read stories