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Londis (United Kingdom)
A chain of convenience stores operating in the United Kingdom From Wikipedia, the free encyclopedia
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Londis is a symbol group in the United Kingdom with over 2,000 stores nationwide. Tesco owns the brand, following its 2018 purchase of Booker Group.[3][2][1]
Although it was formerly a subsidiary, the Londis brand in Ireland is no longer related to Londis (UK).
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Etymology
The name Londis is a contraction of "London District Stores".[4]
History
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Foundation
Londis was established in Great Britain in 1959 by Kevin Stanley-Adams as a communally owned company, with each retailer owning a share in the parent company.[4]
Acquisition by Musgrave Group
However, in June 2004, the parent company was sold to the Irish Musgrave wholesale chain with a payment of £31,000 being made to each retailer who owned a stake,[5] bringing it under the same ownership as Budgens, which has now adopted a similar franchise based business model. This acquisition proved controversial,[6][7] with the CEO of Musgrave in the United Kingdom, Eoin McGettigan, steering through the choppy waters of member revolts and counter offers from others backed by Icelandic banks.[8] A separate, but wholly owned subsidiary company, Musgrave Retail Partners GB Ltd. was formed to supply the stores, until it was sold to Booker Group in 2015.[9] In May 2015, Londis' parent company Musgrave Group confirmed it had reached an agreement to sell Budgens and Londis for £40 million to the wholesaler Booker Group, subject to regulatory approval.[2]
Acquisition by Booker Group
Since May 2015, the company has been owned by Booker Group, which purchased Londis and its sister company Budgens from the Musgrave Group for £40 million.
Tesco plc acquired Booker Group in 2018.[1]
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Operations
The current Londis retailer network is in excess of 2,200 stores and forecourt shops located throughout England, Scotland and Wales.[10]
References
External links
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