P&H confirms potential takeover by The Carlyle Group

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Palmer and Harvey has confirmed it has entered a period of exclusivity with The Carlyle Group ahead of a planned takeover by the buyout firm.

The terms of the potential transaction include Carlyle taking control of the equity of the wholesaler.

The potential transaction remains subject to ongoing due diligence and contract. P&H had worked with PricewaterhouseCoopers LLP, acting as its financial adviser, to explore all of its strategic options.

P&H said the potential transaction would provide “a strong financial platform” from which to build upon its 90 years of experience in the wholesale industry and ”take full advantage of the many opportunities across its markets”.

It will share more details about this development with its customers, suppliers and many trading partners in the coming weeks.

Readers' comments (14)

  • If Nisa customers get to vote on the Coop deal why don't P&H customers get to vote on this deal? Is it because P&H supplies Tesco?

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  • Nisa customers are shareholders as well, whilst P&H are customers only- it has nothing to do with Tesco.

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  • As Costcutter shops we never seem to get a say in anything

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  • James, this is the grocery trade. it ALWAYS has something to do with Tesco.

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  • Costcutter on verge of announcing their new supply partner.The greed of the P&H board in doing the Costcutter deal in 2013 has led to this.A shambles for the staff and independent customers.Costcutter were given priority WITHOUT loyalty being built in to the deal.A sad end to a once great company.

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  • Purse,

    True but I was merely referring to the difference in a shareholder vote vs customers ;)

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  • As a Premier retailer I agree with Ostwalwistle Grocer. I think we should be allowed to vote on the Tesco takeover.

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  • Norma,how many customers have Tesco got?Its NOTHING to do with them or Booker customers.Its a GOV decision

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  • "How many customers have Tesco got?" Surely it should be "How many customers does Tesco have?".

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  • Can someone explain to me what Costcutter is for? It was originally founded because Colin Graves believed Spar was wrong to concentrate on convenience rather than larger stores. It seems to me that Spar has been proven correct. Larger stores are well served by Nisa. Most Costcutter stores are smaller and have poorer standards than the average Spar. Costcutter is owned by a major logistics company but has no distribution of its own. All it appears to do is add another layer from which Bibby profits. How does this benefit the independent sector?

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