Co-op made reported £15m takeover bid for Costcutter

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The Co-operative Group recently made a £15m bid for the Costcutter Supermarket Group, according to reports by Sky News.

The Co-op‎ Group made the offer several weeks ago, although the bid was turned down by Costcutter owner Bibby Line.

Costcutter announced last week that all its stores have now fully transitioned into the Co-op/Nisa supply chain and around 400 member stores have been lost in the past year in the run-up to and immediate aftermath of the collapse of former distribution partner Palmer & Harvey (P&H).

A merger of the Co-op and Costcutter groups would affect Mace, Simply Fresh, Kwiksave and Supershop retailers. Any tie-up between Costcutter and the Co-op would be subject to approval by the Competition & Markets Authority (CMA).

The Co-op and Costcutter declined to comment on the reported takeover bid when contacted by C-Store.

Bibby Line completed its 100% purchase of Costcutter in November 2011, after initially acquiring a majority 51% stake of the business in 2007. 

Readers' comments (3)

  • Makes sense though doesnt it?

    N.

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  • Only makes sense in terms of goodwill. Given the amount of nonsense CC retailers have put up with without quitting it's probable that they will put up with anything so buying CC at this point the Coop can be pretty sure they won't lose any members. However if one insiders the quality of the remaining membership why would you bother?

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  • Always on the cards after the Coop Nisa deal went through.. Coop then have one wholesale arm with multi fascia options for its members..
    Any payment is just a gesture as Costcutter has no assets, just a brand.
    Feel for the staff and retailers.. Bibby and P&H destroyed the business.

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