Wm Morrison Supermarkets Limited

Is Morrisons owned by another company?
Yes, Morrisons is owned by Clayton, Dubilier & Rice (CD&R), a private equity firm that acquired the company in October 2021 for approximately GBP 7 billion (GBP 9.7 billion including debt). CD&R led a consortium that took Morrisons private through a leveraged buyout, ending the company's 54-year history as a publicly traded company. Morrisons is now a private limited company.

Is Morrisons publicly traded?
No, Morrisons is no longer publicly traded. The company was acquired by CD&R in October 2021 and delisted from the London Stock Exchange. Morrisons had been publicly traded since 1967. As a private company, Morrisons files financial accounts with Companies House but is not subject to the same disclosure requirements as publicly traded companies.

When was Morrisons founded?
Morrisons was founded in 1899 by William Morrison, who started as an egg and butter stall in Bradford's Rawson Market in West Yorkshire. The business grew from this single market stall into one of the UK's major supermarket chains, with the company floated on the London Stock Exchange in 1967.

What is Morrisons' revenue?
Morrisons reported FY2025 revenue of GBP 18.69 billion for the 53 weeks ended February 2, 2025, with underlying EBITDA of GBP 1.22 billion. The company's financial performance has been impacted by inflationary pressures, competitive pricing investments, and interest costs on approximately GBP 4.8 billion in debt from the CD&R acquisition.

Who is Morrisons' CEO?
Rami Baitieh has served as CEO of Morrisons since 2023. He previously held senior roles at Carrefour, the French supermarket group. Baitieh has focused on improving the customer experience, reducing prices on key items, and modernizing the store estate since taking the role.

What is Morrisons' market position?
Morrisons is the fifth largest supermarket chain in the United Kingdom by market share, with approximately 8.5% as of mid-2026. The company serves around 11 million customers weekly through its network of approximately 497 supermarkets. Morrisons has been losing market share to discount retailers Aldi and Lidl.

How many stores does Morrisons operate?
Morrisons operates approximately 497 supermarkets across England, Wales, Scotland, and Gibraltar. The company also operates Morrisons Daily convenience stores, both company-owned and franchised, including stores acquired through the McColl's acquisition in 2022. The total store network, including convenience stores, numbers over 1,500 locations.

Morrisons was founded in 1899 by William Morrison, who began as an egg and butter stall in Rawson Market, Bradford, West Yorkshire. The business grew steadily through the early 20th century, expanding into a chain of grocery stores across Yorkshire and northern England. The company remained under family control for several decades, with William Morrison's son, Sir Ken Morrison, taking over in 1952 and driving significant expansion.

The company was floated on the London Stock Exchange in 1967, providing capital for further expansion. Throughout the 1960s and 1970s, Morrisons continued its expansion, primarily focusing on the north of England. The company developed a reputation for quality fresh food, competitive pricing, and a no-frills approach to retail.

A significant transformation came in 2004 when Morrisons acquired Safeway's UK operations for approximately GBP 3 billion, nearly doubling its size and expanding its presence significantly in southern England, Wales, and Scotland. The acquisition made Morrisons the fourth largest supermarket chain in the UK at the time. The integration of Safeway was challenging, with significant conversion costs and operational disruptions, but it gave Morrisons national coverage for the first time.

The company faced increasing challenges in the 2010s due to intense competition from discount retailers Aldi and Lidl, as well as the rapid growth of online grocery shopping. Morrisons was slower than competitors Tesco and Sainsbury's to develop online capabilities, initially partnering with Ocado for online delivery before launching its own platform. These pressures led to declining market share and financial difficulties.

In 2021, Clayton, Dubilier & Rice (CD&R) acquired Morrisons for approximately GBP 7 billion, prevailing in a competitive auction against Fortress Investment Group. The acquisition was completed in October 2021, and Morrisons was delisted from the London Stock Exchange, ending its 54-year history as a publicly traded company. The deal was valued at GBP 9.7 billion including debt.

Under CD&R ownership, Morrisons has focused on operational improvements, cost reduction, and strategic investments in pricing and loyalty. The company has also expanded its wholesale and franchise operations, supplying McColl's stores (acquired in 2022 from administration) and converting them to Morrisons Daily format. In 2023, Morrisons announced a strategic partnership with Amazon to offer Morrisons products on Amazon's UK grocery store, expanding the company's digital reach.

For FY2025 (53 weeks ended February 2, 2025), Morrisons reported revenue of GBP 18.69 billion and underlying EBITDA of GBP 1.22 billion. The company has been working to reduce its debt burden, which was approximately GBP 4.8 billion as of early 2025, a legacy of the leveraged buyout by CD&R.

Morrisons has established sustainability initiatives focused on reducing food waste, packaging, and carbon emissions. The company has committed to achieving net-zero carbon emissions across its own operations by 2035 and across its supply chain by 2045.

On food waste, Morrisons has partnered with FareShare, a UK food redistribution charity, to donate surplus food. The company has also implemented food waste reduction programs in its manufacturing operations and stores. Morrisons was the first UK supermarket to commit to sending zero food waste to landfill.

On packaging, Morrisons has committed to making all own-label packaging recyclable, reusable, or compostable by 2025. The company has introduced packaging reduction initiatives, including removing plastic lids from own-label products and introducing paper carrier bags.

On carbon emissions, Morrisons has set science-based targets for emissions reduction and has invested in renewable energy for its stores and manufacturing facilities. The company has installed solar panels at selected stores and manufacturing sites and has purchased renewable electricity for its operations.

Morrisons is not a Certified B Corporation. The company publishes an annual sustainability report, though as a private company, its reporting is less detailed than when it was publicly listed. The company's sustainability claims are not subject to the same level of external scrutiny as publicly traded competitors.

On supply chain ethics, Morrisons works with British farmers and suppliers as a priority, particularly in meat, dairy, and produce categories. The company has established the Morrisons Farming Programme to support British agriculture. The company publishes a supplier code of conduct and conducts audits of its supply chain.

Morrisons has faced several controversies and regulatory challenges:

CD&R Acquisition Controversy (2021): The GBP 7 billion acquisition by CD&R was controversial, with some shareholders and politicians expressing concern about the potential impact on jobs, pensions, and the company's commitment to British suppliers. The Competition and Markets Authority (CMA) investigated the acquisition on competition grounds, given CD&R's existing investment in Motor Fuel Group, but ultimately cleared the deal with conditions related to fuel pricing.

McColl's Acquisition (2022): Morrisons acquired McColl's Retail Group from administration in 2022 for approximately GBP 190 million. The acquisition was controversial because it involved taking over a failed business with significant pension liabilities. The Pensions Regulator engaged with Morrisons to ensure that McColl's pension scheme members were protected.

Fuel Pricing Investigation (2022-2023): The CMA investigated fuel pricing at supermarket fuel stations, including Morrisons, amid concerns that supermarkets had not passed on reductions in wholesale fuel prices to consumers. The CMA found that increased supermarket fuel margins had cost consumers approximately GBP 900 million in 2022 and 2023. Morrisons and other supermarkets were required to provide price transparency data.

Market Share Decline: Morrisons has lost market share to Aldi and Lidl, declining from approximately 10% in 2020 to approximately 8.5% in mid-2026. Analysts have attributed this to a combination of pricing uncompetitiveness, slower online development, and the debt burden from the CD&R acquisition limiting investment.

Debt Burden and Pension Obligations: The leveraged buyout by CD&R left Morrisons with approximately GBP 4.8 billion in debt. This debt burden has been criticized by analysts and unions for constraining the company's ability to invest in stores, pricing, and employee wages. The company's pension obligations have also been a concern, though Morrisons has maintained pension funding commitments.