Morrisons operates nearly 500 shops across the UK – 100 of which have in-store pharmacies – and it employs more than 110,000 staff.

Fortress Investment Group – a US investment firm led by the owner of Majestic Wine – announced on Saturday (July 3) that Morrisons had accepted its £6.3 billion takeover bid.

While the takeover is subject to shareholder approval, the supermarket’s directors believe the offer is “fair and reasonable” and are recommending shareholders approve it unanimously.

PDA: Support for members working at Morrisons

Following the announcement that Morrisons had accepted the Fortress group’s offer, the PDA union said it will support its members “through the implications of any takeover”.

PDA director Paul Day said: “The PDA union will act in the interests of our members at Morrisons and will be supporting them to exercise their rights at work through any change.”

The PDA expects the new potential owners “to be open and transparent with its employees” and make them aware of any implications for their employment, it added.

C+D has asked Morrisons how the takeover deal could affect its pharmacy teams.

Fortress’ long-term vision for Morrisons

Fortress managing partner Joshua A. Pack said the company is “committed to being good stewards of Morrisons”.

“We fully recognise Morrisons’ rich history and the very important role Morrisons plays for colleagues, customers, members of the Morrisons pension schemes, local communities, partner suppliers and farmers,” he added.

The press release issued by Fortress on July 3 did not mention the pharmacy side of the business.

However, it acknowledged the “impressive manner in which Morrisons supported customers, employees and broader stakeholders through the COVID-19 crisis”.

It said that Morrisons teams are its “greatest asset” and said it “does not intend to make any change to the benefits provided by the Morrisons pension schemes”.

Morrisons’ staff “existing employment rights, including existing pension rights of the management and employees of Morrisons, will be fully safeguarded”, Fortress added.