"Old Man Morrison" is how hard-nosed stockbrokers affectionately refer to the businessman who has propelled a family firm into a leading FTSE 100 player.

Sir Ken Morrison is the man at the helm of the original grocer's "rags to riches" tale founded on a solid marriage of quality and value.

He has earned the analysts' affections through his no-nonsense approach to expanding his father's firm and making money while keeping a community approach to business.

The 71-year-old, born and bred in Bradford, has spurned many of the loyalty card gimmicks used by rival chains, prefering to give customers "more for less", as the company's mantra states.

Sir Ken's father, William, founded the company in 1899 when it was an egg and butter merchant in West Yorkshire.

The road to fame and fortune followed a move into market stalls and counter service, then in 1958 it progressed to a small town centre shop.

In 1961 it opened its first supermarket in Bradford. Since then, the chain has expanded steadily and in 1967 Morrisons became a public company.

Such was the investor interest, shares were over-subscribed 174 times as more than 80,000 investors clamoured to buy into the business.

Those investors have been handsomely repaid for their faith in the firm.

The company has 35 unbroken years of sales and profit growth, which led to its introduction to the FTSE coveted top 100, in April 2001.

Sir Ken was rewarded for his business acumen in the 2000 New Year's Honours list, when he received a knighthood for services to food retailing.

The problem for some has been how happily Morrisons and Safeway will sit together.

Morrisons' proposed acquisition of its rival was received yesterday as something akin to early mixed marriages.

Shortly after the announcement that Morrisons had made a bid which Safeway was inclined to accept, subject to shareholders' approval and the Monopolies Commission's blessings, Morrisons' shares fell while for Safeway the reverse was true.

The smaller company - Morrisons' turnover is £3.9bn compared with Safeway's £8.7bn - enjoys a much higher level of respect from the City.

Anthony Platts of North-East stockbrokers Wise Speke explains: "The City loves the story that Sir Ken has grown the business from humble beginnings.

"They have always gone for growth. New stores have always been the future of Morrisons, whereas the other, more established supermarket groups have been keener to pay out dividends."

Sir Ken believes Southerners could benefit from a bit of Northern common sense.

He is convinced that value for money works in principle the nation over.

Despite the City's poor view of Morrisons' acquisition, the suggestion closer to home is that Sir Ken may just have pulled off his most brilliant business move to date. Only time will bear this out.