UK-based multinational grocery and general merchandise retailer Tesco has announced the divestment of its Euphorium bakery business.

The divestment decision is part of a plan by Tesco CEO Dave Lewis to focus on the sales of its supermarket business.

Financial details of the transaction have not been divulged by both the companies.

"This agreement will mean we can continue to serve shoppers with great quality Tesco bakery products.”

A Tesco spokesperson was quoted by BBC as saying: “We know how important a great bakery offer is to our customers, and this agreement will mean we can continue to serve shoppers with great quality Tesco bakery products.”

Earlier this year. the UK supermarket chain divested Dobbies Garden Centres, restaurant chain Giraffe and Harris + Hoole coffee shops.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

While Soho Coffee will acquire Euphorium's high street stores and Islington factory, Leicestershire-based Samworth Brothers will buy the Weybridge plant.

See Also:

The Euphorium bakeries within Tesco outlets will continue to be operated and managed by the supermarket chain.