Tesco and Waitrose in for Co-op stores

Friday, 12 December 2008

Tesco and Waitrose have become the latest supermarkets to agree to buy stores off the Co-operative group (Co-op) so its purchase of Somerfield can go ahead.

It is understood Tesco will take 15 venues and Waitrose 13.

Regulator the Office of Fair Trading said the Co-op must sell 26 stores before the acquisition is finalised to ease competition concerns, according to Property Week.

In total the co-op must ultimately sell 126 stores under the terms of the deal.

Last week it was reported that Morrisons plans to buy 38 stores off the Co-op.

And Somerfield today revealed that it posted like-for-like sales growth of 5.4% in the six months to the start of November.

12 Dec 2008 - Waitrose boss remains optimistic
12 Dec 2008 - Somerfield enjoys strong sales before Co-op deal completes
10 Dec 2008 - Waitrose: Christmas cooking stressful for Brits
06 Dec 2008 - Waitrose sees boom in cheaper cuts of meat
02 Dec 2008 - Waitrose convenience store for Bristol
27 Nov 2008 - Waitrose benefits from big price cuts
20 Oct 2008 - Co-op Somerfield link gets green light after sell-offs deal
12 Aug 2008 - Co-op "to sell" Somerfield stores

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L. wicks said:

	... Hope we get either Teco or Morrisons in Cranbrook in kent either would be so much better than Co-op store.Better food, better quality,keeping fingers crossed on that one.
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January 17, 2009
Votes: -1

Jack Kingston said:

	... I hope we get a Waitrose in Basingstoke!!
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December 14, 2008
Votes: +2

Sophie said:

...
Well this can only be a good thing for some areas of the country. In Camberwell for example we currently have two Somerfields within 100 metres of each other. I hope that one will have to be sold off to Tesco or similar just so that the area can get decent quality food at good prices. If you look at Somerfield the prices in many cases are more expensive than Waitrose and the service is dire so having a Tesco will be a great improvement

December 13, 2008
Votes: -1

d potter said:

	... The co-op has to sell 26 stores to the likes of Tesco in the interest of compettion. You must be joking. What next? All aussies and kiwis must return home so that there is a more equal racial mix in Britain. This country is going to the dogs when tesco are given the right to expand even further in the name of compettion... Once again the lunatics are running the asylum.
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