The Competition & Markets Authority (CMA) has given final approval to McColl’s Retail Group to take over 298 convenience stores from the Co-operative Group.
McColl’s will begin to integrate the stores in late January 2017 and expects all conversions to be completed by the end of August 2017. Last month, Nisa announced that it would be supplying the 298 stores.
Once the transition is complete, convenience stores will comprise more than three quarters of McColl’s total estate. It forms part of the group’s plans to focus on the convenience market, rather than just traditional CTNs – a move it began making in October 2015.
Jonathan Miller, McColl’s chief executive, said: “We are delighted that the CMA has approved our acquisition of these 298 quality convenience stores. This is a transformational deal, which substantially accelerates our growth strategy and expands our neighbourhood presence for the benefit of our customers.
“We expect these newly acquired stores to make a significant contribution to our future strategic plans.”