Midcounties Co-operative and Central Co-op have announced plans to merge, bringing together two of the UK’s largest independent co-operatives.
The proposed merger would create a combined organisation with annual revenues exceeding £1.8 billion. It would unite more than one million members and around 13,000 colleagues across their retail operations.
Elaine Dean, president of Central Co-op, said: “As co-operators, we know that by working together, we can achieve more for our members, colleagues and communities.
“By combining our strengths, we can create a co-operative society that is more influential, more resilient and more ambitious, while helping ensure that the co-operative movement continues to grow and inspire. We look forward to continuing discussions with the Midcounties Board over the coming weeks.”
Subject to board approval from both societies, the two co-operatives would unite to form a single business.
The merger represents a strategic step aimed at enhancing operational efficiency and delivering significant economies of scale across the organisation.
Phil Ponsonby, chief executive of Midcounties Co-operative, added: “We have a unique opportunity to create a Society for the future, something that reflects the priorities of our members and addresses the challenges of our time.
“This potential merger would strengthen our ability to innovate, invest and cross-market a broad family of businesses to create a strong and stable platform for future growth.”
As part of the agreement, both societies will retain their independent identities following the merger.
