Co-operative Group to acquire Somerfield for GBP1.56 billion
Jul 16, 2008 (Datamonitor via COMTEX) --
The Co-operative Group and Somerfield have entered into an agreement for the Co-operative Group to acquire supermarket chain Somerfield for GBP1.565 billion on a cash-free debt-free basis.
According to The Co-opertaive Group, the combined food business will operate more than 3,000 grocery stores and generate net sales of about GBP8 billion.
Peter Marks, chief executive of The Co-operative Group, said: "For The Co-operative Group this is a transformational deal - cementing our position as the UK's premier community retailer and helping us significantly as we lead a renaissance of The Co-operative brand. Together, The Co-operative and Somerfield colleagues will be better placed than ever before to provide consumers with great choice, value and service."
http://www.datamonitor.com
Republication or redistribution, including by framing or similar means,
is expressly prohibited without prior written consent. Datamonitor shall
not be liable for errors or delays in the content, or for any actions
taken in reliance thereon
Copyright (C) 2008 Datamonitor. All rights reserved
News Provided by COMTEX
Related terms: acquisition, business, community, debt, food, grocery
Related Articles
UK Government: OFT refers Long Clawson/Millway merger to the Competition Commission - Zibb.com
Oct 8, 2008
...Given the amount that UK shoppers spend annually...Nottinghamshire. The six largest UK grocery retailers are...Morrison's, the Co-operative Group, and Somerfield. Tuxford...share of supply in the UK (or a substantial part...placed on the Office of Fair Trading's web site at http...
Dobbing in creates a climate of fear
Sep 18, 2008
...been deregistered. Meanwhile in the UK there is a another ongoing saga of a doctor being...doctors to describe the architect of the UK’s disastrous medical training scheme...outrage amongst other medical bloggers in the UK who say it amounts to bullying by senior...
Microsoft pushes for deal over schools IT complaint
Sep 17, 2008
...Topic Pages Want to join the UK’s fastest growing dedicated...community? Enter here to browse the UK’s top usergroups, societies...public sector By Computerworld UK reporter The battle over...about Microsoft to the Office of Fair Trading (OFT) about interoperability...
UK company develops 'green' dairy diet
Sep 16, 2008
Animal Feed & Animal Nutrition News UK company develops 'green' dairy diet ...Dairy co-operative First Milk in the UK developed a new diet that can increase yields...these figures could be repeated for the UK's entire milk output, it would be the...
Companies in this article
