London Daily

Focus on the big picture.
Thursday, Jul 10, 2025

Morrisons writes to reassure anxious UK farmers over US takeover

Morrisons writes to reassure anxious UK farmers over US takeover

CEO’s letter to 3,000 suppliers reaffirms grocer’s unique dealings with British agriculture
Morrisons has written to the UK farmers whose produce fills its supermarket shelves to reassure them that the takeover offer led by US investment firm Fortress will protect the character of the business and its relationship with its suppliers.

In a letter to the 3,000 farmers who supply the grocer, seen by the Guardian, Morrison’s chief executive, David Potts, writes that the company’s board believes the Fortress would be a “suitable and responsible owner”, and that its pledges about the future of the company “carry genuine weight”.

“Throughout our discussions with Fortress, we considered very carefully whether Fortress would be a suitable and appropriate owner of Morrisons and whether their plans for the business would protect and develop the fundamental character of Morrisons for the benefit of all stakeholders,” Potts wrote.

“And that of course includes the farmers we work with and British agriculture more widely.”

Unlike other supermarkets, Morrisons deals directly with the farmers who stock its shelves, rather than wholesalers. As a result, the National Farmers’ Union (NFU) calls Morrisons “British farming’s biggest direct customer”.

Farmers had previously expressed concerns over whether a future owner of Morrisons would honour its relationships with food producers and its payment practices, while also giving a commitment to work with farmers on improving sustainability and ensuring food security in the UK.

Morrisons has been viewed as a cornerstone of the UK’s food supply infrastructure during the disruptions felt during the pandemic and following Brexit.

Potts wrote that the grocer was “proud to have championed British farmers” for generations, and assured them that this “will not change under new ownership”. The letter was first reported by the Sunday Telegraph.

Minette Batters, the NFU president, said last week that farmers would be “keeping a close watch over any potential takeover of Morrisons”.

Batters welcomed Fortress’s recognition of the significant role played by Morrisons with British farming, describing it as “encouraging” that the firm had “committed to continue with Morrisons’ strategic intentions to support British farmers and work with them to deliver on the business’s environmental commitments”.

“Sourcing from British farms has long been part of Morrisons’ heritage and it is reassuring that the potential buyer wishes to continue to uphold these core values going forwards,” Batters said.

Fortress’s bid values Morrison’s shares at £6.3bn, before the inclusion of £3.2bn of net debt, giving a total value of £9.5bn.

Morrison’s board accepted the offer earlier this month, having rejected an earlier proposal from US private equity firm Clayton, Dubilier & Rice (CD&R). It is not clear if CD&R will return with a higher bid, or if other private equity firms such as Apollo will also bid for the UK’s fourth-largest supermarket chain.
Newsletter

Related Articles

0:00
0:00
Close
Severe Heatwave Claims 2,300 Lives Across Europe
NVIDIA Achieves Historic Milestone as First Company Valued at $4 Trillion
Declining Beer Consumption Signals Cultural Shift in Germany
Linda Yaccarino Steps Down as CEO of X After Two Years
US Imposes New Tariffs on Brazilian Exports Amid Political Tensions
Azerbaijan and Armenia are on the brink of a historic peace deal.
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Weinstein Victim’s Lawyer Says MeToo Movement Still Strong
U.S. Enacts Sweeping Tax and Spending Legislation Amid Trade Policy Shifts
Football Mourns as Diogo Jota and Brother André Silva Laid to Rest in Portugal
Labour Expected to Withdraw Support for Special Needs Funding Model
Leaked Audio Reveals Tory Aide Defending DEI Record
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
London Stock Exchange Faces Historic Low in Initial Public Offerings
A new online platform has emerged in the United Kingdom, specifically targeting Muslim men seeking virgin brides
Trump Celebrates Independence Day with B-2 Flyover and Signs Controversial Legislation
Boris Johnson Urges Conservatives to Ignore Farage
SNP Ordered to Update Single-Sex Space Guidance Within Days
Starmer Set to Reject Calls for Wealth Taxes
Stolen Century-Old Rolls-Royce Recovered After Hotel Theft
Macron Presses Starmer to Recognise Palestinian State
Labour Delayed Palestine Action Ban Over Riot Concerns
Swinney’s Tax Comments ‘Offensive to Scots’, Say Tories
High Street Retailers to Enforce Bans on Serial Shoplifters
Music Banned by Henry VIII to Be Performed After 500 Years
Steve Coogan Says Working Class Is Being ‘Ethnically Cleansed’
Home Office Admits Uncertainty Over Visa Overstayer Numbers
JD Vance Questions Mandelson Over Reform Party’s Rising Popularity
Macron to Receive Windsor Carriage Ride in Royal Gesture
Labour Accused of ‘Hammering’ Scots During First Year in Power
BBC Head of Music Stood Down Amid Bob Vylan Controversy
Corbyn Eyes Hard-Left Challenge to Starmer’s Leadership
London Tube Trains Suspended After Major Fire Erupts Nearby
Richard Kemp: I Felt Safer in Israel Under Attack Than in the UK
Cyclist Says Police Cited Human Rights Act for Riding No-Handed
China’s Central Bank Consults European Peers on Low-Rate Strategies
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Musk Battles to Protect Tesla Amid Trump Policy Threats
Air France-KLM Acquires Majority Stake in Scandinavian Airlines
UK Educators Sound Alarm on Declining Child Literacy
Shein Fined €40 Million in France Over Misleading Discounts
Brazil’s Lula Visits Kirchner During Argentina House Arrest
Trump Scores Legislative Win as House Passes Tax Reform Bill
Keir Starmer Faces Criticism After Rocky First Year in Power
DJI Launches Heavy-Duty Coaxial Quadcopter with 80 kg Lift Capacity
U.S. Senate Approves Major Legislation Dubbed the 'Big Beautiful Bill'
Largest Healthcare Fraud Takedown in U.S. History Announced by DOJ
×