Costcutter owner Bestway takes near £200m stake in Sainsbury’s
by Mark Sweney from World news | The Guardian on (#688EB)
Grocery wholesaler may look to make further market purchases of supermarket's shares
Bestway, the owner of the Costcutter chain and is one of the UK's largest grocery wholesalers, has taken a near 200m stake in Sainsbury's and could seek to increase its stake further.
The privately owned Bestway, which also owns the UK's third-largest pharmacy chain and 2,000 convenience stores under the Costcutter and Best-one brands, has bought almost 81m shares, giving it a 3.45% stake in the UK's second-largest supermarket chain.
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