Me Group extends partnership with Morrisons supermarkets

(Sharecast News) - Me Group International announced on Monday that it has extended its partnership with Wm Morrison Supermarkets for a further five years, strengthening its presence across the UK. The FTSE 250 company said the agreement would see the installation of at least 200 additional Revolution-branded laundry machines at Morrisons locations over the next three years, supporting its growth ambitions in the laundry services sector.

Prior to the new contract, Me Group said it operated 488 photobooths, 424 children's rides, and 37 Revolution laundry machines across Morrisons sites.

Since the contract extension, 67 new laundry machines have been installed, bringing the total to 104, with performance reportedly in line with expectations.

The company said it currently operates more than 1,000 24-hour self-service Revolution laundry machines across the UK, and is continuing to expand its network.

"We are delighted to extend our partnership with Morrisons for an additional five years, which will see the rollout and installation of at least 200 Revolution laundry machines at its sites over the next three years," said Me Group's UK managing director and head of investor relations, Vladimir Crasneanscki.

"As a leading supermarket innovator in the UK, Morrisons is the perfect partner to offer our laundry services to customers as they carry out their weekly supermarket shop.

"This new contract builds on our existing relationship where we have a number of other services in place across Morrisons high footfall locations, including photobooths and children's rides which provide fantastic synergies for both parties."

At 0950 GMT, shares in Me Group International were up 0.74% at 203p.

Reporting by Josh White for Sharecast.com.