Waitrose Tied in Talks to Acquire Eat

Reports have revealed that Waitrose is currently tied in talks for the acquisition of Eat, the popular sandwich and coffee chain which is visited by City workers very frequently.

The high-end supermarket, which is a unit of the John Lewis Partnership, is still in the preliminary stages of discussion to purchase the 100-store chain, which was first established in 1996 by Niall and Faith MacArthur. Presently, Eat is co-owned by Penta Capital.

The acquisition deal could be worth nearly 100 Million Pounds.

For Waitrose, which recently shared that it is looking to increase its presence in the convenience store market and is expected to inaugurate its first ever mini convenience-sized shop this summer in Cambridge, the purchase of Eat would bestow it with an instant chain of already popular cafes via which it can sell food.

Already, Waitrose has managed to bag major deals with other retailers to expand the brand, agreeing to sell its food products in as many as 700 Boots outlets. Also, it is testing a partnership with Shell's petrol stations.

No comments have come from either Eat or Waitrose on the reports.