McColl’s aquisition of 298 Co-operative stores approved by CMA
Convenience chain operator McColl’s has had its acquisition of 298 convenience stores from the Co-operative Group approved by the Competition & Markets Authority.
McColl’s will begin to integrate the stores in late January 2017 and expects all conversions to be completed by the end of August 2017. Following completion of the conversions, convenience stores will comprise over three quarters of McColl’s total estate as it looks to transform its business.
Jonathan Miller, chief executive, McColl’s 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.”
In July McColl’s announced it would be acquiring the stores from the Co-operative Group for £117 million.
