Anglia and Midlands Co-operative Societies announce proposed merger
- Credit: Archant
ANGLIA Co-operative Society and Midlands Co-operative Society have announced that they are starting a process which is hoped to result in their merger.
If the move goes ahead,it would create one of the largest and most successful retail Co-operative Societies in the UK.
Anglia Co-operative Society has a diverse portfolio of successful businesses across four counties in the Anglia region, and Midlands Co-operative Society was named Co-operative of the Year this summer.
Both Societies will propose the merger to their members later this year. The move will result in a Society with a turnover of more than a billion pounds a year and a business consisting of more than 100 funeral homes and almost 250 stores and filling stations.
Talking about the reasons behind the move, John Chillcott, Chief Executive of Anglia Co-operative Society, said: “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.”
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Martyn Cheatle, Chief Executive of Midlands Co-operative Society, 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.”
The merger can only take place if approved by members of both Societies. Members will have the chance to vote at a series of special meetings to be held in October and November. If approved, the merger will take place early in December.
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