Co-op agrees takeover of almost 200 mini supermarket stores in ‘historic milestone’

Co-op has entered into an agreement to take over a regional co-operative business. The independent firm operated more than 170 convenience stores and 69 funeral homes across the country. Southern Co-op has now entered into a subsidiary of the Co-op Group Credit: Unknown Southern Co-op has now transferred to a subsidiary of the Co-op Group, Siena Co-operative Limited. Following approval from Southern Co-op members in May this year, the brand is now part of Siena Co-operative Limited, but will continue to trade under its current name. Sign up for the Money newsletter Thank you! The transaction still remains subject to Competition and Markets Authority (CMA) approval, which is expected to be reviewed later this year. However, if approved, integration plans between the two societies – The Co-op Group and Southern Co-op – may start progressing. Southern Co-op, a once independent co-operative, operates across the south of England, covering parts of Berkshire, Bristol, Buckinghamshire, Cornwall and Sussex, among others. It owns 173 stores, 83 Starbucks cafes and 69 funeral homes, as well as three crematoria and four burial grounds. The society has around 330,000 members, with more than 16,091 members casting votes in the merger proposition. The transfer is said to mark a major step towards a proposed combination of the two societies. Most read in Money Although, Southern Co-op’s stores and businesses will continue to operate as normal and separately to the Co-op Group for the time being. Kate Allum, interim CEO of The Co-operative Group, said: ”Today marks a historic milestone for both societies and the wider co-operative movement. “By combining over 300 years of co-operative heritage, we are building a stronger future for members, customers and communities.” Southern Co-op was at risk of facing mass closures and “likely administration”, revealed its CEO, if members chose to go against the decision to merge back in May. Comment now