Co-op Unveils Details Of Somerfield Integration Plan

Wed, 18 Feb 2009
 
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The Co-operative Group, Britain’s biggest mutual retailer, has announced plans to convert some 650 Somerfield stores to its own brand.

Last summer the Co-op bought the Somerfield supermarket chain in a deal worth £1.6bn. The acquisition will cement its position as the UK's fifth largest food retailer behind Tesco, Asda, Sainsburys and Morrisons .

Peter Marks, the chief executive of The Co-op, said that the Somerfield business will be run separately for up to two years until the integration of the two grocery chains is completed.

The new brand will be officially launched by a £70 million advertising campaign that will highlight its ethical credentials.

Marks added that around 130 Co-op stores with competition concerns will be closed and also confirmed that Somerfield's headquarters in Bristol will be shut down following the completion of its takeover.

Somerfield has historic ties in Bristol dating back more than 130 years, having first started life as a small family grocery store in the city.

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