23/07/08 - Somerfield could be taken over by Co-operative Group
Published Date:
23 July 2008
The Co-operative Group has bought out retail rival Somerfield, and may take over its store in High Street, Spilsby.
The group is a member-run national business, dealing with food, financial services, travel, health and legal services.
While the £1.565bn deal is in its early stages, one of the options is to re-brand the Somerfield branch as one of The Co-operative Group's stores.
Pete Williams, Somerfield spokesman, said: "The deal is subject to approval by the Office of Fair Trading and only then will we be able to talk in more detail."
Monica Nelson, a representative of The Co-operative Group, said: "At this early stage we are unable to comment on individual locations."
The Co-operative Group chief executive Peter Marks said: "This is good news for consumers and for competition in the grocery market where we will create a stronger fifth player in food and a convenience store chain with unrivalled geographic reach."
The Co-operative Group owns the Hildred's Centre store in Skegness, but is a separate company to the Lincolnshire Co-operative, which owns shops in Burgh le Marsh and Wainfleet, and which is not involved in the agreement.
The full article contains 209 words and appears in n/a newspaper.
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Last Updated:
23 July 2008 10:15 AM
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Source:
n/a
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Location:
Skegness
