2008 Buyout Track 10 Biggest
Rank: 6 Somerfield
Main shareholders: Apax Partners (31%), Robert Tchenguiz (27%), Barclays Capital (22%), management (16%), Kaupthing (4%)
The country’s fifth-biggest grocer has performed strongly having restructured its business after it was taken private for £1.8bn in December 2005 by Robert Tchenguiz, Barclays Capital and Apax Partners. It has ditched the underperforming Kwik Save business and taken steps to exploit its large property portfolio more efficiently. Somerfield claims to offer shoppers an easy local alternative to the large out-of-town stores of its rivals. Profits grew 28% a year from an annualised £133.7m in 2005 to £218m in 2007 under chief executive Paul Mason.
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The country’s fifth-biggest grocer has performed strongly having restructured its business after it was taken private for £1.8bn in December 2005 by Robert Tchenguiz, Barclays Capital and Apax Partners. It has ditched the underperforming Kwik Save business and taken steps to exploit its large property portfolio more efficiently. Somerfield claims to offer shoppers an easy local alternative to the large out-of-town stores of its rivals. Profits grew 28% a year from an annualised £133.7m in 2005 to £218m in 2007 under chief executive Paul Mason.
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Company facts
Somerfield
Supermarket operator
Company website
| Profit growth | 27.68% pa |
| 2007 profit | ‡£218.0m |
| 2005 profit | *£133.7m |
| 2007 sales | |
| 2007 staff | 26,971 |
| Founded | 1875 |
| Location of HQ | Bristol |
| * annualised figure | |
