The ownership of Coop Butiker & Stormarknader CBS, a cooperative group that operates stores under the Coop Sweden and Stora Coop banners, is being transferred to a consortium of three groups, Konsumentföreningen Stockholm (Stockholm Consumer Association), Coop Kristianstad Blekinge and Coop Mitt.
CBS, which is currently owned by KF, said that the move means that approximately 900,000 members will move to the consumer associations to which they geographically belong, in Stockholm, Uppsala, Västmanland, Örebro and several other areas.
The deal is set to be completed by the start of 2022, at which time store operations will transfer to the three groups.
'Positive Decision'
"This is a positive decision that will strengthen the members' opportunities for participation and influence, strengthen the cooperative's role going forward and contribute to the development of the business," commented Leif Linde, chairman of the board of KF.
He added that the move will "lead to better focus and provide better opportunities to create the right conditions for profitable trade. This in turn will contribute to further strengthening the role of the cooperation."
The move follows the unveiling of a new strategic approach by KF, announced in 2020, which sought to make the group 'more relevant' to its members.
'Increased Opportunities'
"The relocation of our online members and the change of CBS is an important part of this work," said Marie Nygren, CEO of KF and chairman of the board of CBS.
"The move also creates increased opportunities for dialogue with the members, which in turn creates loyalty and satisfied customers."
KF added that the agreement means that it will gain a 'greater focus' on the development of its business, as well as greater opportunities to invest further in developing sustainability, logistics and digitisation initiatives.
"The ambition is for this to strengthen our role in the market," Linde added.
In July, Coop Sweden announced the reopening of all its stores following a major cyber attack.
© 2021 European Supermarket Magazine. Article by Stephen Wynne-Jones. For more Retail news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.
