Coop has acquired all 163 Swedish stores of the Danish Netto chain. However, the deal is still awaiting permission from the competition authorities.
Integration into Coop
Coop Butiker & Stormarknader, which manages 240 of Coop's 650 stores, acquires Netto's complete store network in Sweden. Netto, a subsidiary of the Danish Salling Group, has a strong position in the southern part of Sweden. Neither party has released information about the deal's worth.
Coop will slowly integrate its new stores into its network: during a transition period the stores will continue to use the Netto brand, but afterwards they will be rebranded into Coop stores. Changes will include a wider range of food products, including Coop's large number of sustainability labels.
Coop Butiker & Stormarknader and its 7,500 employees reached a turnover of 16 billion Swedish crowns (1.5 billion euros) last year. Its owner is Coop Sverige, which in its place is owned by the Swedish co-operative union Kooperativa Förbundet.