Central Co-op bosses in talks over merger deal

BOSSES at Central Co-op are in talks over a merger deal.

The Lichfield-based business is in “advanced discussions” with The Midcounties Co-operative.

The two companies are the largest independent retail co-operatives and have been in talks for a number of months over the planned merger which would bring together one million members and annual sales of £1.8billion.

If approved, it would see the new group include 500 food stores, 170 funeral homes, 70 travel agencies and almost 50 nurseries, as well as more than 500 investment properties across the UK.

Elaine Dean, president of Central Co-op, said:

“As co-operators, we know that by working together we can achieve more for our members, colleagues and communities. By combining our strengths, we can create a co-operative society that is more influential, more resilient and more ambitious, while helping ensure that the co-operative movement continues to grow and inspire.

“We look forward to continuing discussions with the Midcounties Board over the coming weeks.”

The discussions come after the recent transfer of Chelmsford Star Co-operative into Central Co-op.

Debbie Robinson, chief executive of Central Co-op, said

“While talks are ongoing, discussions to date have identified significant commercial and operational benefits that could come from merging our two societies.

“However, this is ultimately about more than numbers, it’s about people. By uniting our societies, we can increase our ability to deliver value for our members and communities, provide more rewarding careers and greater opportunities for development for our colleagues – and it means that we can combine our respective strengths to create a new Society that is built to thrive for the long term.”