Morrisons will have to sell the McColl’s store in Perth and 27 stores in England and Wales after the Competition and Markets Authority (CMA) said it is “minded to accept” the supermarket’s proposals to resolve competition concerns raised by its takeover of the convenience retailer.
The CMA launched its investigation into Morrisons’ reported £190m purchase of stores owned by McColl’s Retail Group in July.
Following its Phase 1 investigation, the CMA found that the deal raised competition concerns in 35 areas.
Morrisons has now offered to divest 28 McColl’s stores to a purchaser or purchasers to be approved by CMA.
The CMA is now consulting on the proposals for the sale of these stores.
Sorcha O’Carroll, CMA Senior Director of Mergers, said: “Our preliminary view is that the sale of these stores will preserve competition in these local areas and prevent consumers from losing out due to this deal, at a time when shoppers are already facing rising prices.
“If, after reviewing the responses to our consultation, we conclude that the competition issues have been addressed, the deal will be cleared.
