Daily briefing: Friday

Heath Lambert boss Adrian Colosso must be shouting from the rooftops. At last, he’s got his money and also a contract to stay on at Heath Lambert following the 97m deal which, by the way, isn’t a bad price all things being considered.

Health is a good fit for Gallagher's ambitions to break into the retai marketl. But it’s not all sweetness and roses: there are some big questions.

First, can Colosso work with Gallagher International boss David Ross? Colosso will have to report into Ross, and that might not be easy for him to swallow, having spent years roaming Lime Street as king of his jungle.

Next, how do the staff feel about all this? It’s fair to say there were serious concerns among employees during the takeover regarding the future security of their jobs and who would eventually be in charge. There could be duplication between the two businesses, and that could result in staff redundancies. Management will need to communicate what’s going on sooner rather than later.

There will also be a clutch of staff who owned shares in Heath, and how they’re feeling will be important. Gallagher now needs to communicate quickly and effectively with the Heath staff to bolster morale.

Also, can Ross handle this project? He’s bright, young and very focused. But he’s more of a wholesale man than a retail maven. He’ll need to quickly adapt to the changes - hopefully with some help from Colosso.

Finally, going off on a slight tangent, the deal represents another avenue being cut off for Chris Giles. He has always pined for a transformational deal, and Heath could have made a very nice fit. That chapter is now closed. So who would he turn to next – Oval again?

Saxon East is assistant editor, news.