Co-op Group buys 15 Budgens stores in continued expansion
The Co-operative Group has bought 15 Budgens convenience stores as part of expansion plans for Co-operative Food.
The Group has bought the stores for an undisclosed fee from Booker Group, the UK’s largest food wholesaler, which also owns Londis. Most of the stores are in the London and the South East.
One of three newly appointed acquisitions managers, Simon Finlay said: “The Co-op is a truly special business with a rich history and unique commitment to local communities, but what really drew me to the role was the size of the opportunity. We delivered nearly 100 convenience stores last year, far more than any other retailer, and to be part of such a big acquisitions program is very exciting. I’m looking forward to seeing what this year brings.”
The Group is now seeking freehold or leasehold sites for new store locations. Chief executive for retail, Steve Murrells, said:
“Co-op Food continues to go from strength to strength. Our acquisitions programme is fundamental to the success of this strategy, and in 2016 the Co-operative is actively pursuing 100 new stores. The acquisition of these Budgens stores absolutely supports our focus on convenience store retailing.”