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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.

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