Co-op buys Budgens in Crouch End
PUBLISHED: 15:25 04 February 2016 | UPDATED: 15:25 04 February 2016
The Co-op has bought the Budgens store in Crouch End as part of a package acquisition, for an undisclosed amount.
The Co-op has bought the Budgens store in Crouch End Broadway as part of a package acquisition for an undisclosed amount.
The British retailer has purchased 15 branches of Budgens, mostly in London and the south-east, as part of its strategy to establish itself as a major player in the convenience store market.
Steve Murrells, chief executive of retail at Co-operative Food, said: “Co-op Food continues to go from strength to strength, with a clear strategy that focuses on the growing convenience store market and our vision to establish ourselves as the number one convenience store operator.
“Our acquisitions programme is fundamental to the success of this strategy, and in 2016 The Co-operative is actively pursuing 100 new stores.
“The acquisition of these Budgens stores absolutely supports our focus on convenience store retailing.”
When asked about the likely dates for converting the store from Budgens, a spokesman for the Co-op said it was too early to say as the deal had only just been agreed.