THE 1,919 independent shopkeepers who own Londis, the wholesale distributor, have voted overwhelmingly in favour of selling to Musgrave, an Irish competitor, for £60m.
The value of the Musgrave bid means that each shopkeeper will receive a £31,266 windfall from the sale. More importantly, according to Peter McNamara, acting chief executive of Londis, the vote was "a critical stage in the battle to provide services good enough to compete with Tesco and Sainsbury's".
The 55-year-old company has come under intense pressure from supermarkets in recent years, and the ability of Musgrave to deliver the chilled, ready meals that Britons are buying in increasing numbers was seen as a critical factor in accepting the offer.
In addition, Shamus Lehal, leader of the Londis shareholder action group, said that Musgrave would give the shopkeepers access to "better prices, training and support".
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