Asda completes acquisition of 132 Co-Op sites
The circa 2,300 workers currently employed by The Co-op will move to Asda’s employment.
Asda has completed the acquisition of 132 convenience stores with fuel from The Co-Op as part of its strategy to enter the convenience retail space.
The acquisition, which was initially announced at the end of August for a cash value of £438 million, includes 129 high-quality existing sites across the UK with a retail store of between 1,500 and 3,000 square feet and attached petrol stations, and three development sites.
The circa 2,300 workers currently employed by The Co-op will move to Asda’s employment under TUPE transfer in the coming months, following consultation with USDAW.
During that time the sites will be run separately to the Asda business and only following formal approval of the transaction will colleagues be able to transfer to Asda’s employment and the stores made part of the Asda estate.
Over the last five years we’ve been consistently ranked as one of the cheapest providers of fuel in the UK and have been voted the Grocer’s best priced supermarket for 25 years in a row – meaning customers in these communities can look forward to saving millions annually on the cost of filling their shopping trolleys and tanks when Asda comes to town.
