Midlands Co-operative Society and Anglia Co-operative Society have announced plans to merge.
The merger, which is expected to take place later this year, would create a society with sales of more than £1bn and would have 227 food stores across the east of England and the Midlands.
“As well as having many similarities from a business and organisational point of view, our two societies also have the benefit of a shared cultural and ethical perspective,” said Anglia Co-op CEO John Chillcott.
“Having already spent many years working together in co-operation to the benefit of both societies, I have no doubt that this partnership will be a huge success financially and will bring many benefits to the communities which we have both served for so long.”
Midlands Co-op CEO Martyn Cheatle added: “In a highly competitive marketplace, the time is right for us to join forces. Both societies are strong within their respective trading areas and combined would create one of the most successful co-operative societies in the country.
“We believe that this move provides a fantastic opportunity to secure the long-term future of our societies and will allow us to accelerate our plans for growth and development. By pooling our resources, we will be better placed to develop our competitive advantage, protect our existing business, and move forward with investment and expansion on a greater scale,” he added.
It is the second merger to be announced within The Co-op movement in three months. In July, Scotmid and Penrith co-op’s announced plans to merge. The merger was approved by members last month.
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