Privately owned retail group Bestway, the owner of Costcutter, has built a 3.45% stake in Sainsbury's.
Bestway bills itself as the seventh largest family-owned business in the UK with turnover of about £4.5 billion. It said it may look to make further market purchases of Sainsbury's shares from time to time, subject to availability and price.Sainsbury's noted Bestway's announcement.The 3.45% stake makes Bestway Sainsbury's sixth largest investor, Refinitiv Eikon data showed.
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