Jul 16, 2008
Co-operative Group purchases Somerfield
The Co-operative Group said Wednesday it had struck a deal to acquire British supermarket Somerfield for 1.56 billion pounds (US$3.12 billion).
The deal would secure the Co-op's place as Britain's fifth-biggest food retailer.
The Manchester, England-based Co-operative Group Ltd. is the world's largest consumer cooperative. It already has some 2,200 stores, part of its empire of food, drug, travel, financial and funeral services. The Somerfield Group operates about 900 stores, including 140 gas stations.
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