The Co-operative Group has acquired Alldays in a deal that will shake up UK convenience retailing.
Beleaguered Alldays went into receivership on Monday and was immediately snapped up by Co-op for£131 million.
Co-op has now become one of the biggest players in the convenience market, which is becoming increasingly fierce as groups such as Tesco and Sainsbury's elbow in.
Co-operative Group chief executive Martin Beaumont said: 'This deal establishes the Co-operative Group as the UK's leading convenience store operator. The acquisition will help us to build the momentum behind our highly successful convenience proposition.'
The pounce brings Co-op 600 shops to add to its 1,000-strong portfolio.
Alldays' 10,500 staff have been transferred to Co-op with immediate effect.
Co-operative Group general manager for marketing John Bowes said that Co-op will retain almost all of Alldays' stores because there is negligible geographical overlap.
An integration plan will be drawn up in the next couple of months, but a decision has yet to be made on the future of the Alldays fascia or management.
Co-op will invest heavily in upgrading Alldays stores.
Verdict senior retail analyst Steve Gotham said: 'It (the deal) fits in with Co-op's strategy. Their c-stores have been performing really well.
The performance of the Alldays stores has not been bad considering they have been hampered by a lack of investment. This gives Co-op a significant opportunity to drive growth.'
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