Morrisons Supermarket

Morrisons is a UK-based supermarket chain founded in 1899 by William Morrison. Originally a public limited company, it was acquired by the U.S. private equity firm Clayton, Dubilier & Rice (CD&R) in October 2021, transitioning to a private company. CD&R's acquisition aimed to revitalize Morrisons through strategic investments and operational improvements. Under CD&R's ownership, Morrisons has focused on enhancing its pricing competitiveness and expanding its loyalty programs to regain market share. Despite these efforts, the company has faced challenges, including significant debt-financing costs and increased competition from rivals like Aldi and Tesco. In 2023, CEO Rami Baitiéh implemented strategies to improve service, pricing, and product offerings, leading to a 4.1% rise in quarterly underlying sales. However, the company reported a £1 billion loss in the previous year due to high debt-financing costs. To address this, Morrisons sold its petrol forecourt business to reduce debt and is focusing on cost-cutting measures to improve financial stability. The brand continues to be a significant player in the UK retail sector, striving to adapt to changing market dynamics and consumer preferences.