The owner of the Costcutter chain and one of the UK’s largest grocery wholesalers has taken a near-£200m stake in Sainsbury’s and said it could increase its position further.
The company, which describes itself as the UK’s seventh-largest family owned business with a turnover of £4.5bn, has bought almost 81m shares, giving it a 3.45% stake in the UK’s second-largest supermarket.
