Discount chain B&M European Value Retail (BME) has announced the £152m acquisition of Heron Food Group, which analysts have described as “good value”. The deal reflects ongoing consolidation in the food convenience market, something that has taken up plenty of column inches thanks to the pending tie-up between supermarket Tesco (TSCO) and wholesaler Booker (BOK).
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Two of the three Heron owners will remain with the business under the B&M umbrella. Last year the company made revenue of £274m and pre-tax profit of £8.6m.
