Supermarket chain the Midcounties Co-operative has entered a deal to acquire four food stores from Warner’s Budgens.
Established in 2006, Warner’s Budgens operates food stores in the Cotswolds, England. It offers more than 700 items, including seasonal fruit and vegetables, as well as own-brand and local meat ranges.
The deal will strengthen the presence of Midcounties Co-operative in and around the Cotswolds, and offer its members access to high-quality food stores.
Currently owned and operated by independent retailer Guy Warner, the four Warner’s Budgens stores are located in Bidford-on-Avon, Broadway, Moreton-in-Marsh and Winchcombe.
Guy Warner said that the transaction offers an opportunity to invest in new sites and develop existing petrol forecourt businesses.
Warner added: “Midcounties is an excellent fit for these stores as we have shared community values, as well as a total commitment to supplying more locally-sourced food and drink products.
“Our staff will have greater opportunities in a larger organisation and our customers will benefit from the Co-op’s extensive own brand range.”
“We are proud to serve shoppers in the Cotswolds and will continue to do so with our petrol forecourt businesses and new ventures.”
Expected to close by mid-2019, the transaction will see Warner retain freehold ownership of the four properties.
Midcounties Co-operative currently operates supermarkets and convenience stores across the UK.
Midcounties Group CEO Phil Ponsonby said: “This latest purchase will also help strengthen our relationships with local producers, allowing us to continue to develop and grow our Best of our Counties range of locally produced food and drink.
“In addition, we will offer an increased range of own brand products to provide even more choice for shoppers.”