Wm Morrison Supermarkets Limited today completed a £220 million sale and leaseback transaction with ICG. The transaction involves seven logistics properties around the UK. As part of the transaction, Morrisons has undertaken to lease the properties for up to 25 years from completion.
Jo Goff, Morrisons Chief Financial Officer, said:
“We continue to invest in our strategy of becoming a broader, stronger, more popular and more accessible business and this transaction will help to finance further investment. The acquisition of McColl’s earlier this year gave us a leading position in the UK convenience market and next year we plan to open a further five supermarkets across the UK, and to invest further in our manufacturing operations.”
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