Co-op swoops for DAB Stores
DAB Stores, the garage forecourt and supermarket business in Shropshire, has been acquired by The Co-operative Group. The deal, part of The Co-operative’s strategy to purchase 300 stores in three years, was completed for £1.6m.
Business agent and adviser Christie + Co sold the business on behalf of the vendor.
Manchester-based The Co-operative said the purchase would give its food division “a significant market presence in Shropshire”.
Peter Rowley, The Co-operative’s regional operations director for the North West and North Midlands, said: “At a time when consumers are looking for both value and values in business, The Co-operative has become even more relevant and distinctive. We will meet all the community’s daily food shopping needs and, in the best traditions of The Co-operative, make our contribution to community life.”
Matthew Grace, associate director of Christie + Co, said the deal “bolsters” The Co-operative Group’s strategy for acquisition while sending a message of confidence to the wider retail sector.
