I fear for Morrisons

 I have written before about the supermarket I first discovered on a contract in Leeds for a then much larger retail organisation. Morrisons had not yet broken out of its north England fastness but it was clearly a go-ahead organisation. In particular, its presentation of fresh food was distinctive and attractive.

Ken Morrison was a Conservative, but clearly of the traditional kind. If he were still alive, he would no doubt be appalled at the battle which has taken place between giant American venture capital groups for control of the company he built up. Whichever one wins, history suggests that the result can only be a degradation of the stores. Promises made by such people can seldom be relied on and at least one of the rival bidders has an ominous background. The pressure group DeSmog warns:

Supermarket chain Morrisons is set to be snapped up by a group of US investors that includes a subsidiary of fossil fuel giant Koch Industries, known for funding numerous climate science denial groups across the country. The £6.3 billion takeover bid of the UK’s fourth largest supermarket group, which campaigners fear could represent a “worrying shift”, is being led by US private equity firm Fortress Investment Group, owner of Majestic Wine. The Canada Pension Plan Investment Board, one of the world’s biggest pension funds that manages pensions for all Canadian employees, is also providing funding. Profits from Koch Industries, the largest private company in the US, have been used to support a sprawling network of libertarian, anti-regulation think tanks and lobby groups that have worked to cast doubt on mainstream climate science and oppose climate legislation.

Morrisons takes pride in having more direct control of its supply chain than other supermarkets, with the implications for food quality and safety that implies. Post-Brexit, that also makes the company less dependent on imported food. That could all be at risk if asset-strippers move in.