Coop takes over Coop Pronto completely
Published: Tuesday, Oct 15th 2024, 07:30
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Coop is taking over the entire subsidiary Coop Pronto with its 324 stores and locations. With the full takeover of Coop Pronto, the retail giant aims to strengthen its market position in the convenience business, according to a press release issued on Tuesday.
Coop will buy the 49 percent of Coop Mineraloel AG held by its US partner Philipps 66, the statement continued. This still requires the approval of the Swiss Federal Competition Commission (Weko). It is not known how much Coop will pay for the outstanding shares.
Following completion of the deal, Coop will hold 100 percent of Coop Mineraloel AG in future. The company operates stores at selected locations throughout Switzerland and in Liechtenstein with a smaller product range than is the case in Coop stores. This also includes petrol station stores.
According to the information provided, the Coop Pronto locations will continue to be operated according to the current concept in the franchise system. Coop also promises to retain the longer opening hours that apply there.
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