Morrisons to take wholesale supply past GBP1bn with McColl's deal

Morrisons is hoping to establish ‘Safeway’ as a own-label convenience brand

Morrisons is hoping to establish ‘Safeway’ as a own-label convenience brand

Morrisons will supply Safeway products and other national brands to 1,300 McColl's convenience shops and 350 newsagents across the United Kingdom starting in 2018, with profits from the deal expected to start accruing from the following year.

Morrisons is to become the sole wholesale supplier for McColl's, which has 1300 convenience stores and 350 newsagents across the United Kingdom, and will replace current suppliers Nisa and Palmer & Harvey.

A new Safeway range of 400 fresh, frozen and ambient food products will also be exclusively available to McColl's for a year. "With the upcoming Competition and Markets Authority review of the sector, we should expect more of the unexpected and we anticipate that the shake-up of United Kingdom grocery supply businesses is about to start a chain of significant changes to the structure of the marketplace".

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"By the end of 2018, we expect total annualized wholesale sales [including tobacco] to all our partners to be in excess of 700 million pounds [$920 million]".

Supermarket giant Morrisons is relaunching the Safeway brand after striking a deal with McColl's to supply the convenience store chain with groceries.

It expects the new deal to make an initial profit contribution in the 2019 financial year, increasing thereafter.

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Meanwhile, McColl's recently announced a 7.6 per cent jump in revenues after taking over nearly 300 Co-op stores.

McColl's chief executive Jonathan Miller said the deal was a "defining moment" for his business and builds on its transformational strategy to acquire more convenience stores around the UK.

Under chief executive David Potts, Morrisons has canned its convenience stores and become a wholesaler, reviving the Safeway brand 12 years after buying it. "This will enable us to provide our customers with the highest-quality fresh food through the relaunch of the much loved and trusted Safeway brand".

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Shares in Morrisons rose more than 1% in early trading on the London Stock Exchange.

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