• Numerous reports in the UK has focused on the retirement this week of Sir Ken Morrison, the chairman of William Morrison Supermarkets, who is stepping down from the business after 55 years with the company.
All of the stories note that one of Morrison’s most audacious moves was the acquisition of Safeway Plc back in 2004, which turned the company into a national player and which, in the immediate aftermath, appeared to be a terrible mistake. Lately, however, it has begun to look like a canny move as William Morrison Supermarkets has begun to grow market share even in an intensely competitive market.
• Hain Celestial Group reportedly will acquire the MaraNatha and SunSpire brands, which generated about $40 million in sales in 2007, and their nut butter manufacturing facility in Ashland, Ore., from American Capital Strategies Ltd. Terms of the deal were not disclosed.
All of the stories note that one of Morrison’s most audacious moves was the acquisition of Safeway Plc back in 2004, which turned the company into a national player and which, in the immediate aftermath, appeared to be a terrible mistake. Lately, however, it has begun to look like a canny move as William Morrison Supermarkets has begun to grow market share even in an intensely competitive market.
• Hain Celestial Group reportedly will acquire the MaraNatha and SunSpire brands, which generated about $40 million in sales in 2007, and their nut butter manufacturing facility in Ashland, Ore., from American Capital Strategies Ltd. Terms of the deal were not disclosed.
- KC's View:
