The Co-operative Group has announced it’s to buy three stores, all currently trading as Budgens, for an undisclosed sum.
The three stores, at Amesbury and Wilton, in Wiltshire, and at Didcot, in Oxfordshire, will transfer to The Co-operative Group, with plans to begin trading as Co-operative Food stores before Christmas.
All 36 staff currently employed at the outlets will transfer to The Co-operative Group.
The group’s purchase of the three stores is the latest step in its plans to expand its existing store network in the next few years.
It has a rolling programme to open more than 300 food outlets across the UK over the next three years, employing more than 7,000 people.
The Co-operative Group, the UK’s fifth largest food retailer, is focusing on stores, either leasehold or freehold, of under 3,000sq ft, particularly in high street and local community locations.
Martin Vickerman, The Co-operative Food’s recently-appointed business development manager, is spearheading its acquisition of new businesses. He said: “These three stores are just the sort of locations we’re looking for, and will complement our existing store network. They will be valuable additions to our portfolio, and mark another important step in our ambitious plans to expand. We are in negotiations with a range of other retailers regarding further acquisitions next year.”
Source: The Co-op