Supreme reassures over Morrisons takeover of McColl's

Consumer products manufacturer and supplier Supreme reassured shareholders over the sale of McColl's Retail Group to the Morrisons division Alliance Property Holdings on Tuesday.

The AIM-traded firm said it had “always” served the McColl's store estate via a distribution agreement with Morrisons, meaning Supreme delivers and invoices to Morrisons directly.

It estimated that the McColl's estate contributed around £0,35m in revenue, or less than 0.5%, for the year ended 31 March.

“The company continues to trade well and looks forward to updating the market further at the announcement of its year end results in July,” the board said in its statement.

At 1436 BST, shares in Supreme were down 0.6% at 134.2p.

Reporting by Josh White at Sharecast.com.