Following the completion of the Transfer of Engagements of Southern Co-op into The Co-operative Group in July, in which Southern Co-op transferred to Siena Co-operative Limited, a wholly owned subsidiary of The Co-operative Group, the organisations have now gained CMA approval to join the businesses.

While the CMA conducted its review into the deal, the two businesses continued to operate separately. This decision means the co-operatives can start to bring the businesses together and progress migration plans.

Joining the businesses

The timing of the migration will differ across the different parts of the organisations, which include legal services and funeral homes, as well as Co-op Group’s 2,300 food stores and Southern Co-op’s 173 stores.

The two co-operatives already have a longstanding history of working together and Co-op stated that the approval will be “the start of the next chapter” for the businesses, with the aim of creating a stronger co-operative society of “greater scale, resilience and impact”.

“We have the opportunity to build an even stronger Co-op, with greater scale and resilience.”

Kate Allum, interim CEO of The Co-operative Group, commented: “Today [5th November] is a significant moment for our two societies and the wider co-operative movement. CMA approval gives us the green light to begin an exciting new chapter of co-operation.

“By bringing together more than 300 years of co-operative heritage, we have the opportunity to build an even stronger Co-op, with greater scale and resilience, and the ability to deliver more for our members, customers and communities.”

Ben Stimson, CEO of Southern Co-op, added: “We can now build on Southern Co-op’s achievements and take the strengths of our business forward into the next chapter.

“I’d like to thank colleagues and members for their continued support. Our priority is to maintain our shared values and strengthen the co-operative movement as we join forces in earnest. We’ll keep supporting our colleagues and serving our customers and clients brilliantly through the transition.”