MIDLANDS and Raunds Co-operative societies have entered into merger discussions to bring together the two co-operatives.
Midlands Co-op currently trades across 11 counties and runs retail, travel, funeral and transport businesses with gross sales in excess of £720m and employing over 7,500 staff. Raunds Society, which employs 96 staff, operates a large supermarket, a non-food store and a 350-acre farm, and is situated in Northamptonshire.
Midlands Co-op’s Chief Executive, John Fitzgerald said: “We are delighted to be in discussion with our neighbour, Raunds Co-operative Society, and the prospect of trading co-operatively is logical in the current economic climate.”
Chief Executive & Secretary of Raunds Co-op, Keith Tindall, who is set to retire this year, said: “This is a merger from strength and makes strategic sense in today’s competitive markets, and although it may be seen as the end of an era it is the start of a new dawn for co-operation in the Raunds area. Midlands Co-op is a very large resourceful and financially sound neighbouring society, whose plans and aspirations meet with the long-term interests of Raunds Co-operative.”
No timetable has yet been set for the proposed merger, which will be subject to the democratic process involving the Raunds Co-operative members.
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