Musgrave bids for Londis in Britain

IRELAND’s largest food distributor — Musgrave Group plc — has made a surprise €57m bid for Londis in Britain, which has a turnover of more than €1.4bn.

The offer has no impact on the totally separate and independent Londis operations in Ireland.

Musgrave has agreed with the British board of Londis to buy the entire issued capital of the company. This offer will be considered and voted upon by British shareholding members at a Londis EGM on December 30. If it is accepted, Musgrave will take control of Londis at the end of January 2004.