The Competition and Markets Authority has approved the sale of Musgrave GB to Booker, with completion of the acquisition expected on or before 14 September.
Welcoming the CMA’s decision, Musgrave GB CEO Chris Martin said Booker would provide Budgens and Londis with the scale to compete.
“It has a track record for investment in its brands and a service culture that is proven to meet the needs of the independent sector,” he wrote in a letter to Budgens retailers.
Booker chief executive Charles Wilson said: “We are pleased that the acquisition of Londis and Budgens has been cleared by the CMA.
“This will help strengthen our support for independent retailers throughout Great Britain.”
For the 10 weeks to 28 August 2015 Booker’s non tobacco like-for-like sales rose 0.5%, although tobacco sales declined by 6.6%, which the group blamed on the enforcement of the display ban in small stores.
It said it remained on course to meet expectations for the year ending 25 March 2016.