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Tesco to Purchase Meijer?

GRDadof3

By GRDadof3
in Grand Rapids

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GRDadof3 Ecumenopolis

GRDadof3

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Check out the beginning of this article I found:

Meijer underrated, undervalued. (Opinion).

MMR; July 29, 2002; Pinto, David

Pinto, David

MMR

July 29, 2002

Which mass market retailer is the most successful in America? That's easy. It's Meijer. Meijer? The Grand Rapids, Mich.-based hypermarket retailer? Exactly.

Being a privately held company, Meijer is not very forthcoming with operating figures--or much else. But what little is publicly available tells volumes about this food and general merchandise retailer that Wal-Mart is said to respect above all others.

Look for a moment at the recent (June 17) MMR study of the 100 largest food, drug and discount store markets. In the discount store segment Meijer is represented in no fewer than 15 of these markets, all in the upper Midwest and within a day's drive of the retailer's Western Michigan headquarters. In nine of those market Meijer commands the leading share; in the other six the Grand Rapids retailer is a strong No. 2.

Wal-Mart, the dominant discount store retailer nationally, is by contrast a sometimes-distant second to Meijer in these 15...

You have to do a free trial to read the rest <_<

http://www.highbeam.com/library/doc0.asp?f...eyword=&teaser=

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GRDadof3 Ecumenopolis

GRDadof3

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I don't know, but Buchanan worked pretty heavily with Hines Limited to build the convention center hotel, and I remembered (for some reason) that they were from Houston. Hines is huge and has dealings all over the globe:

http://www.hines.com/hines/index.asp

Here's a synopsis the GRBJ did on them at the time:

With at least 680 holdings worldwide that account for more than 200 million square feet and over $13 billion in controlled assets, what interests Hines Interests LP about developing a convention center hotel in Grand Rapids?

The privately owned Houston-based developer and real estate management firm has offices in 76 U.S. cities and in 11 other countries including Poland, Russia, Italy and China. Hines has about 2,800 employees and does just about everything imaginable in real estate, such as site selection, design, construction management and financing.

The Hines portfolio includes corporate headquarters, industrial facilities, resorts and residential communities. Four of the company

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egrguy Burg

egrguy

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i agree with gary p above and that 400 stores by 2020 is a bit slow, and would lead me to believe that they aren't selling with that growth plan.

if they make this deal, i would sure hope they could at least double or triple their current 6 store per year growth stratedgy. i also remember wisconsin & chicago being the main areas of expansion.

does anyone know if meijer wants to go west before south or east? and how much does one of their supercenters cost to build?

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GRDadof3 Ecumenopolis

GRDadof3

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i agree with gary p above and that 400 stores by 2020 is a bit slow, and would lead me to believe that they aren't selling with that growth plan.

if they make this deal, i would sure hope they could at least double or triple their current 6 store per year growth stratedgy. i also remember wisconsin & chicago being the main areas of expansion.

does anyone know if meijer wants to go west before south or east? and how much does one of their supercenters cost to build?

Here's an article regarding their expansion (or lake thereof) plans:

http://www.backchannelmedia.com/newsletter...ping_Times.html

Their stores are about 200,000 +/- sq ft, but I can't find a published cost to build. Somebody here probably knows.

The latest interview with Hank Meijer:

http://www.mlive.com/business/grpress/inde...ll=6&thispage=1

"As for the rumored $4.3 billion purchase price for half of Meijer, Hank Meijer said it's more money than the family could ever expect.

"That's very flattering and very inflated," he added. "

He probably got a call from his lawyer after that statement :lol:

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dbrok Hamlet

dbrok

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if they make this deal, i would sure hope they could at least double or triple their current 6 store per year growth stratedgy. i also remember wisconsin & chicago being the main areas of expansion.

Well, they better hurry it up in Wisconsin. Woodman's (can't locate a website) is opening stores quickly with the most recent a 237,000 sq ft store in Oak Creek, just south of Milwaukee. They currently have 11 stores under construction in Wisconsin and Illinois according to the Milwaukee Journal-Sentinel. Could give Meijer problems in other key markets like Madison.

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snoogit Town

snoogit

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Here's an article regarding their expansion (or lake thereof) plans:

http://www.backchannelmedia.com/newsletter...ping_Times.html

Their stores are about 200,000 +/- sq ft, but I can't find a published cost to build. Somebody here probably knows.

The latest interview with Hank Meijer:

http://www.mlive.com/business/grpress/inde...ll=6&thispage=1

"As for the rumored $4.3 billion purchase price for half of Meijer, Hank Meijer said it's more money than the family could ever expect.

"That's very flattering and very inflated," he added. "

He probably got a call from his lawyer after that statement :lol:

A rough estimate is between 15 and 18 million.

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Rizzo City

Rizzo

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I was going to say... ;-) thanks for the clearification, maybe I should get me a pair of reading glasses. After I read the article in The Press, I'm shifted to the, "no deal." Unless of course Meijer has become the "No Spin Zone," and spins the hell out of nothing and maybe this time something...

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GRDadof3 Ecumenopolis

GRDadof3

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I was going to say... ;-) thanks for the clearification, maybe I should get me a pair of reading glasses. After I read the article in The Press, I'm shifted to the, "no deal." Unless of course Meijer has become the "No Spin Zone," and spins the hell out of nothing and maybe this time something...

Tesco may have done it to give a temporary boost to their stock price. They have been talking about expanding into the U.S. for quite a while, and this made every business publication in the world go nuts. Just look at all the articles on-line about it now:

http://www.google.com/search?hl=en&q=tesco...G=Google+Search

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