The Co-operative Group has refused to be drawn on reports that the company is one of the front-runners to buy rival UK retailer Somerfield.
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A report in the UK over the weekend said the Co-op had tabled a bid for Somerfield, the convenience store chain that runs over 900 stores in the UK.
The Co-op and Asda, the UK’s second-largest food retailer, have been named as leaders in the race to buy Somerfield, which was put up for sale in January.
A number of unnamed parties approached Somerfield in late January and early February but reports over the weekend said the Co-op and Asda had now both tabled firm bids for the business.
A spokesman for the Co-op declined to comment directly on what he termed as “speculation”. However, he reiterated the company’s desire to make acquisitions.
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By GlobalData“It’s no secret we are in the market for acquisitions and we would look at any opportunity that comes around,” he told just-food today (3 March).
Officials at Asda could not be reached for comment as just-food went to press.
Industry watchers believe Somerfield’s stores could be sold in batches, rather than a potential suitor taking over the whole group.
