The Co-op Group has agreed to sell 298 of its food stores to McColl’s including one in Hampden Park.
Co-op is looking to boost sales of its own-label goods and said the stores sold to McColl’s were too small to stock a full range of those products.
The store in Queens Parade near the Mountney Road roundabout and Lottbridge Drove will become a McColls.
The sell-off does not, says the company, effect the Co-op in Parkfield Avenue or the neighbouring McColls in The Broadway.
Co-op Food boss Steve Murrells said staff working at stores being sold off will keep their jobs under the same employment terms and conditions.
“This announcement is completely in line with our strategy, as these stores did not allow us to provide a sufficiently compelling own-brand offer for our members going forwards,” said Mr Murrells.
“The proceeds will be re-invested to drive sustainable growth for our members and I’m delighted that all 3,808 colleagues will transfer to McColl’s on the same terms and conditions.”
The deal will require approval from competition regulators and McColl’s shareholders.
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