gist

M&S to buy Gist

Marks and Spencer Group is to acquire its long term food distribution partner Gist from BOC Group subsidiary, Storeshield. M&S will acquire the entire share capital of Gist for an initial £145m in cash with a further £85m plus interest from the proceeds of the intended onward disposal of freehold properties. M&S could also retain the freehold properties should it wish to do so for the full amount of £110m. As ... [+]