ASDA has confirmed plans to open buy 132 Co-op sites across the country.
The supermarket giant said the move is part of its plans to open more local, convenience stores.
GettyAsda confirms plans to buy 123 Co-ops[/caption]
Co-op has also agreed to sell its 129-strong petrol forecourt chain.
Asda will pay £438 million in cash and take on around £162 million of lease liabilities as part of the deal, with the final amount set to be confirmed on completion later this year.
Around 2,300 workers currently employed by Co-op stores will transfer to Asda’s employment following the completion and transition period.
Mohsin Issa, co-owner of Asda, said: “We have always been clear in our ambition to grow Asda and are hugely excited to create this new and distinct part of our business, giving us the opportunity to bring Asda value in fuel and groceries to even more customers and communities across the UK.”
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