M&A Deal Summary

Co-operative Group Acquires Somerfield

On July 16, 2008, Co-operative Group acquired retailer Somerfield from Apax for 1.6B GBP

Acquisition Highlights
  • This is Co-operative Group’s 1st transaction in the Retail sector.
  • This is Co-operative Group’s largest (disclosed) transaction.
  • This is Co-operative Group’s 1st transaction in the United Kingdom.

M&A Deal Summary
Date 2008-07-16
Target Somerfield
Sector Retail
Buyer(s) Co-operative Group
Sellers(s) Apax
Deal Type Add-on Acquisition
Deal Value 1.6B GBP
Advisor(s) Jamieson Corporate Finance LLP (Financial)

Target

Somerfield

Bristol, United Kingdom
Founded in 1875, Somerfield was the fifth largest grocery retailer in the UK in 2009, operating out of small, local stores to serve the 'convenience shoppers' market.

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Buyer(S) 1

Buyer

Co-operative Group

Manchester, United Kingdom
Category Company
Sector Retail
DESCRIPTION

The Co-operative Group is a British consumer cooperative with a diverse range of retail businesses.

DEAL STATS #
Overall 1 of 1
Sector (Retail) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (United Kingdom) 1 of 1
Year (2008) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-02 Sunwin Services Group

Bradford, United Kingdom

Sunwin Services Group provides secure cash logistics and ATM maintenance to the Co-op Food ATM estate.

Sell £42M

Seller(S) 1

SELLER

Apax

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1981
PE ASSETS 77.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from $1 to $5 billion. Apax Partners was formed in 1981 and is based in London.

DEAL STATS #
Overall 35 of 171
Sector (Retail) 2 of 9
Type (Add-on Acquisition) 12 of 59
Country (United Kingdom) 7 of 24
Year (2008) 2 of 2
Size (of disclosed) 13 of 50
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-05 Wind Telecom

Rome, Italy

WIND TELECOM S.p.A.(formerly Weather Investments S.p.A.)is an international telecommunications company offering mobile, fixed, internet and international communication services.

Buy €1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-02-02 Novacea

San Francisco, California, United States

Novacea, Inc., a biopharmaceutical company, focuses on in-licensing, developing, and commercializing therapies for the treatment of cancer.

Sell -
Mergr

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