This move is another significant shake-up for the convenience food market. We've already seen Tesco launch a £3.7bn takeover of Budgens and Londis owner Booker, Sainsbury's make a £130m play for Nisa and Morrisons' strike a supply deal with convenience chain McColl's. Even B&M itself was recently the subject of takeover speculation by Asda. The big out of home players are in a frenzy to reach those convenience shoppers looking for better prices.
Discount retailer B&M Bargains is the latest company to take part in the frenzied consolidation of the convenience food market with a £152m swoop on Northern grocer Heron Food Group. Simon Aurora, boss of B&M, said that the acquisition of 251 shops was a "no brainer" of a deal and would mean that B&M could offer discount groceries from convenience shops and undercut the higher prices that supermarkets offered at its smaller stores. "The price war from the 'big four' has been focusing on the big family shop...we won't be getting involved in the weekly shop battle," said the B&M boss.
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