In a deal worth £152m, value retailer B&M have acquired Yorkshire-based Heron Food Group. Heron, another discount retailer, operates predominantly in the North with 251 stores in its portfolio. Of the total deal, £112.1m was paid by B&M today, with £12.8m deferred and based on EBITDA performance. The remainder was satisfied from Heron Food Group’s stores average 2,500 sq ft of retail space compared to B&M’s UK average of 19,000 sq ft. Simon Arora, CEO of Blackpool-based B&M commented, “B&M is already the UK’s leading general merchandise discount retailer, serving 4 million shoppers per week. The addition of a complementary, proven discount convenience grocery brand to our own structural growth story gives the combined business an even longer, exciting growth runway.”