The Office of Fair Trading has approved the Co-operative Group’s acquisition of Scottish convenience retailer, David Sands Ltd.
The purchase will see 28 David Sands’ food outlets, located in Fife, Kinross and Perthshire, taken over by The Co-operative Food, part of The Co-operative Group, for an undisclosed sum.
The acquisition, which is expected to legally complete by the end of the month, will cement The Co-operative Food’s position as Scotland’s fourth largest supermarket chain.
Almost 700 David Sands’ staff will join The Co-operative Group as part of the acquisition of the family-run business.
Peter Marks, Group Chief Executive, The Co-operative Group, said: “The Co-operative welcomes this announcement by the OFT, which is great news for both David Sands’ staff and local customers.
“There is a strong strategic fit between the two businesses and the Sands stores will not only complement our existing estate but will also be a valuable addition to our portfolio.
“This major acquisition will significantly strengthen our food business in Scotland, especially in Fife, Kinross and Perthshire, and also reinforces our position as the fourth biggest food retailer in Scotland.”
The Co-operative Group is the UK’s largest mutual business, owned by more than 7 million consumers. The Co-operative Food currently has 370 food stores in Scotland, serviced from a composite distribution centre that opened in Newhouse, near Glasgow, last year.
It is the fourth largest food retailer in Scotland with an annual turnover of over £1 billion.
