Midlands and Anglia Co-operative Societies to merge
The Midlands Co-operative Society and Anglia Co-operative Society have announced plans to merge.
The two societies will be proposing the merger to members later this year and, if agreed, the partnership will result in a core retail business consisting of nearly 250 food stores and filling stations and over 100 funeral homes, in addition to a number of other business interests.
Furthermore, the new society will be one of the largest independent co-operative societies in the sector with projected sales of £1 billion.
John Chillcott, chief executive of Anglia Co-operative Society, said: “As well as having many similarities from a business and organisational point of view, our two societies also have the benefit of a shared cultural and ethical perspective.”
Never Miss a Retail Update!Martyn Cheatle, chief executive of Midlands Co-operative Society, added: “We believe that this move provides a fantastic opportunity to secure the long-term future of our societies and will allow us to accelerate our plans for growth and development.
“By pooling our resources, we will be better placed to develop our competitive advantage, protect our existing business, and move forward with investment and expansion on a greater scale.”
The Co-operative said that if members approve the proposal, the merger of the two societies will take place in early December 2013.
