Approval for McColl’s £117m Co-op stores deal

Convenience retailer McColl’s Retail Group said the Competition & Markets Authority (CMA) gave final and unconditional approval for McColl’s £117 million acquisition of 298 stores from the Co-operative Group announced in July.

McColl’s said it will begin to integrate the stores in late January 2017 and expects all conversions to be completed by the end of August 2017.

McColl’s CEO Jonathan Miller said: “This is a transformational deal, which substantially accelerates our growth strategy and expands our neighbourhood presence for the benefit of our customers.

“We have a long history and proven track record of successfully integrating convenience stores into our estate, and we expect these newly acquired stores to make a significant contribution to our future strategic plans.”