|
|
Article: OUTLOOK: Big Food Group
- Article from:
- The Independent (London, England)
- Article date:
- October 25, 2002
- Author:
CopyrightCopyright 2002 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
|
YOU COULDN'T have made it up - an Icelandic swoop on the Iceland
foods group. Just as Bill Grimsy, chief executive of this most
beleaguered of food retailers, was preparing to abandon all hope, in
comes Baugur, flush with cash from the recent disposal of its stake
in Arcadia to Philip Green. Even more surprising, they like the
company, they like its strategy, and they even like Mr Grimsy.
Perhaps there is a god after all, Mr Grimsy must be thinking.
None the less, the immediate question has to be: are they mad? At
least with Arcadia there was a connection. Hard to believe, but in
Iceland Top Shop is a big thing . No such association exists with Big
Food Group, the holding company for the ...