Following the completion of Southern Co-op’s Transfer of Engagements into The Co-operative Group in July, the organisations have received approval from the Competition and Markets Authority (CMA) to combine their operations. Southern Co-op transferred to Siena Co-operative Limited, a wholly owned subsidiary of The Co-operative Group.
Throughout the CMA’s review, both businesses continued to operate independently. The approval now allows the co-operatives to begin integrating their activities and move forward with their migration plans.
Bringing the organisations together
Integration will take place at different times across the businesses, which span legal services, funeral homes, The Co-operative Group’s 2,300 food stores and Southern Co-op’s 173 retail outlets.
The two societies have a long history of collaboration. Co-op said the CMA decision marks “the start of the next chapter” for the organisations, supporting the creation of a co-operative society with “greater scale, resilience and impact”.
“We have the opportunity to build an even stronger Co-op, with greater scale and resilience.”
Kate Allum, interim CEO of The Co-operative Group, said: “Today [5th November] is a significant moment for our two societies and the wider co-operative movement. CMA approval gives us the green light to begin an exciting new chapter of co-operation.
“By bringing together more than 300 years of co-operative heritage, we have the opportunity to build an even stronger Co-op, with greater scale and resilience, and the ability to deliver more for our members, customers and communities.”
Ben Stimson, CEO of Southern Co-op, said: “We can now build on Southern Co-op’s achievements and take the strengths of our business forward into the next chapter.
“I’d like to thank colleagues and members for their continued support. Our priority is to maintain our shared values and strengthen the co-operative movement as we join forces in earnest. We’ll keep supporting our colleagues and serving our customers and clients brilliantly through the transition.”
