Tesco and Booker merger targets distribution cost savings

Tesco is to merge with wholesaler Booker in a £3.7bn deal that creates one of the largest own-account operations in the UK, and it is targeting cost savings of approximately £61m in its distribution and fulfillment activities. In a joint statement to investors, both parties said the merger was expected to enable opportunity for cost synergies of at least £175m, mainly in areas such as procurement and distribution. Approximately 35% of these cost savings (£61m) will come from distribution and […]