OFT considers remedies for Midcounties acquisition of Harry Tuffins
The Office of Fair Trading is considering whether to accept remedies offered by Midcounties Co-operative to address competition concerns over its acquisition of the Harry Tuffins grocery chain.
The OFT’s investigation found that the merger would create competition concerns in the retailing of groceries in four local areas.
To resolve the concerns Midcounties has offered to sell four grocery stores, two of which include petrol stations.
The OFT is now considering whether to accept the sale.
Never Miss a Retail Update!Amelia Fletcher, chief economist at the OFT and decision maker in this case, said: “The OFT considers that the retail supply of groceries is an important service to a local area, and this was evident from the number of third party comments received on this merger. The OFT is concerned that customers in the local areas identified would face an increase in prices and a reduction in choice, and we are therefore considering the divestments offered by Midcounties to resolve these issues.”
Harry Tuffins operates grocery and fuel retail outlets across Shropshire, Gloucestershire and Wales.
