Southern Co-op transfers to Co-op group entity

The proposed purchase of the Southern Co-op by the broader Co-op Group was approved by the former’s members in May. In today’s update, the Co-op Group said that the Southern Co-op would continue to trade under its existing fascia, and that the two businesses will continue to operate separately until the end of the Competition and Markets Authority (CMA) review, which is expected to finish later this year.

Southern Co-op currently has 173 food stores, 83 Starbucks, 69 funeral homes and circa 330,000 members.

Co-op Group said under its new subsidiary name ‘Siena Co-operative Limited’, Southern Co-op’s food, funeral and Starbucks businesses continue to operate as normal and separately to the Co-op Group with no immediate changes for members, colleagues, suppliers or communities. 

Interim chief executive of the Co-op said: “Today marks a historic milestone for both societies and the wider co-operative movement. By combining over 300 years of co-operative heritage, we are building a stronger future for members, customers and communities. Together, we can create more opportunities, deliver greater value, and drive the growth of co-operation across the UK for generations to come.” 

Southern Co-op chief executive Ben Stimson said: “Today marks an important milestone for Southern Co-op. I’d like to thank our colleagues for everything they continue to do to support our members, customers and communities as we reach this point.  

“As we take this next step, we’re doing so alongside an organisation that shares our co-operative values and our commitment to making a positive difference in the communities we serve. Our organisations have worked together successfully for many years, including through the Federal Retail Trading Society (FRTS) buying and supply group and the wider co-operative movement, and today’s announcement reflects the strength of that long-standing relationship.”