Sunday, February 17, 2019

McColl‘s takeover of 298 Co-op stores given official green light


Convenience grocery retailers McColl‘s has just been given the green light by the Competition & Markets Authority (CMA) to acquire 298 Co-op stores.

The news comes after the acquisition plans were first announced in July, and McColl‘s said it would begin to integrate the stores in late January and expected all conversions to be completed by the end of next August.

Once completed, convenience stores will comprise three quarters of McColl‘s store estate.

READ MORE: McColl’s expansion leads to 6th year of sales growth

“We are delighted that the CMA has approved our acquisition of these 298 quality convenience stores,” McColl‘s chief executive Jonathan Miller said.

“This is a transformational deal, which substantially accelerates our growth strategy and expands our neighbourhood presence for the benefit of our customers.

“We have a long history and proven track record of successfully integrating convenience stores into our estate, and we expect these newly acquired stores to make a significant contribution to our future strategic plans.”

Click here to sign up to Retail Gazette’s free daily email newsletter