Co-op £15m bid to buy Costcutter rejected

Co-op bid £15m to buy Costcutter
News RN Costcutter Co-op
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Bibby Line Group has rejected a £15m bid from the Co-op to buy Costcutter, according to reports.

According to Sky News, the Costcutter owner had been approached by Co-op with an offer several weeks ago. Although the offer had been declined, further talks are still understood to be open. 

The news comes as Co-op's supply deal with Costcutter is set to start on 16 July as the symbol group's retailers get own-label products from the chain. Co-op's acquisition of Nisa had been given final clearance in May. 

Co-op declined to comment, while Costcutter has been approached for a statement. 

Read more: Costcutter rebate deemed unfair by Nisa retailers

By Alex Yau Avatar
By Alex Yau 09 Jul, 2018

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