Italian Coop Groups Merge To Form United Cooperative
Coop Adriatica, Coop Estense and Coop Consumatori Nordest have agreed to merge, creating the largest Italian cooperative, with 334 sales outlets.
The boards of directors of three consumer cooperatives – based in Bologna, Modena and Reggio Emilia – voted unanimously for the merger.
In a statement, Coop Italia said that the initiative "aims to support and revitalise the role and effectiveness of the cooperative mission, both in the north and south of the country".
The new entity will represent the largest Italian cooperative, with 2.6 million members, €4.2 billion in revenue and 334 stores, including 45 hypermarkets, 19,700 employees, net of subsidiaries and affiliates, which operate in the finance, insurance, tourism, communications, bookshop and retail sectors.
The three cooperatives operate in the Italian regions of Emilia-Romagna, Lombardy, Trentino-Alto Adige, Veneto, Friuli-Venezia Giulia, Apulia, Basilicata and Marche.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic.