Morrison(Wm.)Supermarkets PLC (MRW.L) announced a major new, long-term wholesale supply initiative with McColl's, which will take wholesale supply sales to more than 1 billion pounds in due course.
Morrisons is to start supplying both Safeway products and national brands to 1,300 McColl's convenience shops and 350 newsagents across the UK. The new partnership will replace all McColl's existing supply arrangements in time.
Morrisons noted that it will supply McColl's shops, with a phased programme starting in January 2018. By the end of 2018, the company expects total annualised wholesale sales to all partners to be in excess of 700 million pounds, including tobacco. It expects this new initiative to make an initial profit contribution in 2018/19, and increase thereafter.
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