Rothschild has negotiated its first deal for T&S Stores, the UK convenience retail group which is to be acquired by Tesco, the UK retailer, for £377m (€597m).

T&S Stores has two long term joint-brokers, Credit Suisse First Boston and ING Barings - both of whom were involved in a broking capacity - but opted to use Rothschild for M&A advice. Rothschild has not worked for T&S Stores before.