News story: CMA accepts remedies in convenience store merger
The CMA has accepted Co-op’s proposals to remedy competition concerns over its purchase of a My Local store in Widnes, Cheshire.
On 19 October the Competition and Markets Authority (CMA) announced that the Co-operative Foodstores Ltd’s (Co-op) acquisition of 8 My Local convenience stores gave rise to competition concerns only in Widnes, Cheshire where Co-op already owned 3 convenience stores in close proximity to each other.
On 17 November 2016 the CMA launched a public consultation on Co-op’s proposal to sell 2 of its convenience stores in Widnes – CGL Hough Green and CGL Farnworth – to an approved buyer or buyers. No issues were raised regarding the ability of the proposal to remedy the CMA’s competition concerns.
The CMA is satisfied that Co-op’s undertakings to sell the 2 convenience stores to an approved buyer or buyers resolves its competition concerns. The merger will not be referred for an in-depth phase 2 investigation. Co-op must now sell the 2 stores within a maximum of 3 months to a buyer that the CMA will approve.
All information relating to this investigation can be found on the case page.
