Asda concludes £600m Co-Op acquisition

Asda has has completed the acquisition of 132 Co-Op retail sites, with attached petrol stations, for approximately £600 million.

The grocer said the acquisition – which was first announced in August – is part of its strategy to enter the convenience retail space.

The deal is comprised of 129 existing sites across the UK with a retail store of between 1,500 and 3,000 square feet, as well as attached petrol stations and three development sites.

Around 2,300 colleagues currently employed by the Co-op will reportedly move to Asda’s employment in the coming months.

“We are delighted to formally complete the transaction that we announced in August and taking the next step on our journey to creating a new and exciting part of our Asda business,” said Mohsin Issa, co-owner of Asda. “As millions of families deal with the day-to-day impacts of increasing costs of living, we’re committed to bringing Asda’s great value groceries and fuel to even more communities across the UK through these new stores.”

While the deal has now formally concluded, it remains subject to regulatory approval from the Competition and Markets Authority (CMA), who issued an enforcement notice to investigate the merger on 26 October.

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