Bestway takes stake in Sainsbury’s

27th January 2023 | Jack Oliver

Wholesaler Bestway has taken a 3.45% stake in Supermarket Sainsbury’s.

It announced on Friday morning that it had acquired or agreed to acquire over 80 million shares in Sainsbury’s, in a deal which could be worth around £193m.

Bestway, which started as a chain of convenience stores in 1963, is now a multinational business with interests in the wholesale, pharmacy, real estate, cement and banking sectors.

The group says it is the seventh-largest family owned business in the UK with a turnover of approximately £4.5bn.

Bestway said intends to hold its shares for investment purposes and is looking forward to supporting the supermarket’s executive management team.

It added that it may look to make further purchases of Sainsbury’s shares in the future, but was not considering an offer for the Supermarket.

Sainsbury’s said it would engage with Bestway in line with its normal interactions with shareholders.


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