Farmers supplying Morrisons have been given reassurance that the takeover offer by US investment firm Fortress will continue to champion its relationships with food producers.
Concerns had been raised by farmers over whether a future owner of Morrisons would continue to be committed to working with them, following its payment practices and improving sustainability and food security.
Unlike other supermarkets, Morrisons deals directly with the farmers who stock its shelves rather than wholesalers.
Morrisons chief executive, David Potts, wrote directly to 3,000 farmers, who supply the supermarket chain, saying he believes that Fortress would be a “suitable and responsible owner.”
Mr Potts wrote that the company had carefully considered if Fortress’s strategy for the business would benefit all the stakeholders – including the farmers it works with and wider British agriculture.
Morrison’s board accepted the offer from Fortress earlier this month after rejecting an earlier bid from US private equity firm Clayton, Dubilier & Rice.
National Farmer’s Union president, Minette Batters, said farmers would be keeping a close watch over any potential takeover of Morrisons.
“Sourcing from British farms has long been part of Morrison’s heritage and it is reassuring that the potential buyer wishes to continue to uphold these core values going forwards,” added Ms Batters.
LSL News.