Flash Report 4 minutesRegister for Free AccessTesco-Booker Merger: Uniting Food Retail and Wholesale Coresight Research January 30, 2017 Executive Summary Tesco, the UK’s biggest grocery retailer, and Booker, the UK’s largest cash-and-carry wholesale supplier, have announced an agreement to merge. The transaction values Booker, the smaller of the parties, at £3.7 billion. Tesco and Booker are complementary businesses. While Booker has retail interests through convenience stores, these are non-owned symbol groups, to which it wholesales. The transaction offers Tesco exposure to the foodservice sector, which is growing faster than traditional grocery retailing. Pro forma, the group generated some £59 billion in revenue in FY16, with Booker contributing 9% of this. Tesco says that it expects total quantifiable synergies of at least £200 million within three years. Please Login to read the full report. Not a member? Register for a free user account. This document was generated for Other research you may be interested in: Analyst Corner—Inside the GLP-1 Boom in the US, with Madhav PitaliyaHas the Chip Shortage Ended? What Does This Mean for Retailers?Earnings Insights 3Q23, Week 4: Alibaba, Walmart and More Report Positive Sales Growth; Gap, Macy’s and Others See Sales DeclineJuly 2024 US Retail Sales: Growth Rebounds with Second-Highest Rate in 2024