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© Reuters. Customers wearing face masks are seen inside a Morrisons supermarket on July 5, 2021 in New Brighton, UK. REUTERS / Phil Noble
LONDON (Reuters) – Britain’s farmers’ union said the consortium led by Fortress Investment Group had pledged to agree to a deal agreed to by Morrisons, the country’s fourth-largest supermarket group.
On Saturday, Morrisons recommended a £ 6.3 billion ($ 8.73 billion) bid for Fortress, saying it was the rightful owner.
Two other private equity firms, Clayton, Dubilier & Rice (CD&R) and Apollo Global Management (NYSE :), are also considering bids.
Fortress said Morrisons fully supports his relationship with farmers and does not anticipate material changes in existing payment practices with them.
Morrisons says he is the largest customer of British agriculture.
“It’s a developing situation and we’re going to take good care of Morrisons’ potential ownership, ”said National Farmers Union president Minette Batters.
“It is gratifying that potential buyers recognize and are committed to the important role that Morrison plays as a major direct customer of British agriculture to continue Morrisons’ strategic intentions to support British farmers and meet the business’s environmental commitments. ”
“Leaving farms in the UK is part of Morrisons’ heritage and it is reassuring that potential buyers want to continue to maintain these core values going forward.”
($ 1 = 0.7218 pounds)
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