Tesco and Waitrose in for Co-op stores


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.

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