City braced for fallout of Tesco battle
Peterborough could be braced to suffer a fallout from retail giant Tesco's multi-billion pound battle to acquire wholesaler Booker.
New figures showthat together Tesco and Booker control 31 per cent of the food shops in the Peterborough postcode area.
According to the Local Data Company, the two companies operate 37 of the 117 food shops in the Peterborough postcode area. It is expected that Tesco, the UK’s dominant grocer, will have to sell hundreds of its Express stores to secure clearance for the deal. Opponents fear it could threaten the existence of many corner stores.
But Peterborough retail expert Mike Greenesaid: “Wholesalers, unlike supermarkets, have struggled to provide a good range of quality fresh produce, which is what shoppers want. The Tesco deal will make this possible for Booker. The deal will be good for stores and give consumers more choice.”
The Competition and Markets Authority will have to assess all postcodes across Britain where there are overlaps between Booker and Tesco’s convenience shops before deciding on the proposed £3.7 billion takeover.