The Co-operative Group is ploughing ahead with its 10% food store portfolio expansion plan, with the purchase of 28 David Sands shops.
The deal to buy the Scottish convenience retailer, which is subject to a review by the Office of Fair Trading, will add 28 stores in Scotland to the Co-operative’s 2,800-strong portfolio. It is part of the Co-op’s plan to add 300 more properties to its food arm by 2015.
Since November, the company has opened 16 stores, including eight in Scotland. The latest purchases are in cities such as Dunfermline, Glasgow and Perth.
Peter Marks, group chief executive, said: “The Sands stores will be a valuable addition to our food portfolio as we forge ahead with our programme to expand the business by seeking new opportunities at the heart of local communities right across the UK.”
No parties would comment on the acquisition price.
joanna.bourke@estatesgazette.com
