12th Feb 2014 08:12
LONDON (Alliance News) - The founding family of grocer Wm Morrison Supermarkets PLC has contacted private-equity funds such as CVC Capital Partners Ltd and Carlyle Group LP to weigh their interest in taking the retailer private, Bloomberg Businessweek reported Wednesday, citing people with knowledge of the matter said.
The family, which hold about 9% to 10% of the business, has so far been unable to find a buyout partner due to concerns about Morrison?s slow sales growth and the size of the deal, the magazine said on its website, quoting two of the people.
It added that the family also has approached other private-equity funds, including Apax Partners LLP, but Apax has decided not to pursue a deal, one of the people is reported to have said.
Spokespeople for Morrison, CVC, Apax and Carlyle declined to comment to Businessweek.
Morrison shares were up 3.4% at 245 pence early Wednesday, the top gainer on the FTSE 100.
By Steve McGrath; [email protected]; @SteveMcGrath1
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