Yahoo Finance SandpiperCI sells supermarket stores to Morrisons
Sandpiper CI has sold most of its supermarket franchises to the company that owns and runs Morrisons in the UK and Gibraltar.
WM Morrison Supermarkets Limited will take over the Morrisons Daily, Iceland and Checkers Xpress stores in Guernsey and Jersey, and Le Cocq's in Alderney.
SandpiperCI said its store-based colleagues would move over to Morrisons' payroll, but some office-based staff may be made redundant.
The deal has to be approved by Jersey and Guernsey economic watchdogs before it can go through.
It is expected that, if approved, the sale would be finalised by July.
The Marks & Spencer brand in Jersey is unaffected by the deal and would remain under the SandpiperCI umbrella, the company said.
Morrisons chief executive Rami Baitiéh said: "We have had a solid and successful supply and franchise partnership with SandpiperCI, and we have a strong relationship with the business.
"I look forward to welcoming 520 more colleagues into the Morrisons family, together with 38 popular and well-located convenience stores."
A spokesperson from Morrisons confirmed the seven Checkers Xpress and two Le Cocq's would become Morrisons Daily soon after the deal was completed.
It said Morrisons was "in discussion with Iceland about the future format" of the 10 Iceland franchises.
All 38 stores in the deal will remain as convenience stores.
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