Southern Co-op has completed the transfer of engagements into Co-op Group, marking a “significant transaction milestone”.
It has transferred to a wholly owned subsidiary of Co-op Group called Siena Co-op, meaning Southern Co-op is now legally part of the wider Co-op Group structure.
Southern Co-op members approved the merger in May.
The transaction, however, remains subject to approval from the Competition and Markets Authority (CMA).
Until that process is complete, Southern Co-op and Co-op Group will continue to operate separately and independently.
This means there are no immediate changes for members, customers, colleagues or suppliers while the CMA review is ongoing. The CMA launched the consultation process on 4 June.
Subject to CMA approval, integration plans would then progress at a later stage, Co-op Group said.
Southern Co-op currently has 173 food stores, 83 Starbucks coffee houses, 69 funeral homes, three crematoria, four burial grounds, 77 Welcome franchise stores and around 330,000 members.
Co-op Group’s estate comprises 2,300 food stores, 800 funeral homes, a wholesale business supplying around 8,000 outlets, a legal service, an insurance business, and seven million members.
“Today marks a historic milestone for both societies and the wider co-operative movement. By combining over 300 years of co-operative heritage, we are building a stronger future for members, customers and communities,” said Co-op Group interim CEO Kate Allum.
“Together, we can create more opportunities, deliver greater value, and drive the growth of co-operation across the UK for generations to come.”
Southern Co-op CEO Ben Stimson said: “Today marks an important milestone for Southern Co-op. I’d like to thank our colleagues for everything they continue to do to support our members, customers and communities as we reach this point.
“As we take this next step, we’re doing so alongside an organisation that shares our co-operative values and our commitment to making a positive difference in the communities we serve.
“Our organisations have worked together successfully for many years, including through the Federal Retail Trading Society (FRTS) buying and supply group and the wider co-operative movement, and today’s announcement reflects the strength of that long-standing relationship.”
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