The UK’s Cooperative Group has bought 64 convenience stores in the southwest of England from Conveco in a deal though to be worth around £25m (US$43.9m).
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This is the latest part of an expansion in the convenience store sector by the Co-op, which has bought around 750 stores in the last two years, reported the Financial Times.
The new stores comprise 38 Spar stores, with the remainder operating under the Local Plus banner. To begin with they will be operated as a separate unit, but will eventually be converted to the Co-op’s Welcome format.
